Revance Therapeutics Inc (RVNC)

[Mufaso]

As a recap- Goldman Sachs analysts initiated coverage on RVNC Mar 5 with a Buy rating and a $60 price target.

The Thesis
Revance’s injectable DaxibotulinumtoxinA will soon penetrate and rise in a $3 billion global neuromodulator market expected to post 11-percent compound annual growth through 2023.

Goldman Sachs foresees long-term opportunity in the treatment of glabellar lines, cervical dystonia and plantar fasciitis — expectations supported by physician surveys indicating a potential premium to Botox pricing and few challenges from Allergan’s cosmetic portfolio.

The analysts forecast peak sales north of $1.1 billion, which may secure Revance looks from outside parties.

“Given the attractiveness of the global neuromodulator market […] and growth potential from label expansion opportunities for Daxi, we also see high likelihood of M&A interest in RVNC over time,” Flanders and Staral wrote in a note.

Risks to their thesis include slow commercial uptake, competition and regulatory roadblocks.

https://www.benzinga.com/analyst-ratings/analyst-color/18/03/11304840/goldman-sachs-sees-100-upside-in-this-biopharma-company