Revance selloff brings ‘compelling’ risk/reward, says Barclays

Barclays says Revance Therapeutics declined 17% yesterday following the Investor day, likely caused by the market now looking at the company as a fresh launch again given its newer pricing strategy for Daxxify, which was priced on par with competition, as well as newer margin expectations and escalating concerns on the near-term trajectory post a pricing and strategy reset. The selloff brings a “compelling” risk/reward, the analyst tells investors in a research note. The firm said its survey indicated a lower price was needed. It keeps an Overweight rating on the shares with a $40 price target.