Revance price target lowered to $6 from $11 at Piper Sandler

Piper Sandler lowered the firm’s price target on Revance to $6 from $11 and keeps an Overweight rating on the shares following the Q2 report. Management continues to expect 2024 net sales of at least $280M, but it will “take a Herculean effort of the part of RVNC (namely as it relates to Daxxify) to get there,” the analyst tells investors in a research note. However, Piper believes Revance is well positioned to reach positive EBITDA territory sometime in the second half of 2025.