Revance Therapeutics Inc (RVNC)

[Bickema]

Cantor Fitzgerald initiates coverage on Revance Therapeutic (NASDAQ: RVNC) with a Overweight rating and a price target of $50.00.

Analyst Louise Chen expects upward earnings revisions to levels that have not been reflected in Street expectations on the sell-side. She comments "We expect Revance to report positive results before the end of the year for its: 1) Phase 3 pivotal trials for glabellar lines and 2) Top line Phase 2 results for its new indication, plantar fasciitis."

FY 2017 EPS estimate is for a loss of $3.67 and FY 2018 EPS estimate of a loss of $3.31.
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Shares of Revance Therapeutic closed at $22.75 yesterday.