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Brean Downgrades Revance Therapeutics Following RT-001 Fail

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Brean Downgrades Revance Therapeutics Following RT-001 Fail

Brean Capital's Difei Yang downgraded Revance Therapeutics Inc (NASDAQ: RVNC) from Buy to Hold and removed the price target. The downgrade came after RT-001 failed a Phase III study for Crow's Feet.

Related Link: Brean Reiterates Buy Rating On Revance Ahead Of Upcoming Phase 3 Read-Out

Besides RT-001's failure, Yang needed "more clarity on the Phase III trial design for Glabellar lines" before rating the company as a Buy. Taking into consideration RT-001's loss and Glabellar lines' lack of visibility, the analyst claimed there were "no meaningful catalysts in the immediate time horizon."

At the time of writing, Revance Therapeutics traded at $18.35, down 24.36 percent in the pre-market session.

Latest Ratings for RVNC

DateFirmActionFromTo
Feb 2019Initiates Coverage OnMarket Perform
Feb 2019Initiates Coverage OnBuy
Jan 2019Initiates Coverage OnBuy

View More Analyst Ratings for RVNC
View the Latest Analyst Ratings

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