Revance price target lowered to $33 from $38 at Goldman Sachs

Goldman Sachs analyst Chris Shibutani lowered the firm’s price target on Revance to $33 from $38 but keeps a Buy rating on the shares. The company delivered a “sustainable” Investor Day presentation, outlining several noteworthy strategic adjustments which have the potential to ultimately strengthen its longer-term outlook, the analyst tells investors in a research note. The decision to back away from their premium-pricing approach is likely triggering a net negative impact on revenues with accompanying market dynamic uncertainties, but it is net positives for Daxxify and Revance’s outlook in the longer-term as it directly addresses product cost/practice economics factors which have been the key concern, the firm added.