RVNC - Discontinuation Of Opul Business Weighs On Botox Rival Revance Therapeutics: Analyst Sees Non-Cash Impairment Charge In Millions | Benzinga

Needham analyst Serge Belanger reiterated a Buy rating on Revance Therapeutics, Inc. (NASDAQ: RVNC), lowering the price target to $35 from $40.

The price target adjustment reflects the various business changes. The analyst thinks RVNC discontinuing the Opul business ($3.7 million revs in 2Q23) will lead to a non-cash impairment charge of $80 million-$100 million. The business was projected to grow into a $50 million-$70 million unit by 2027/2028. 

For FY23, the analyst lowered the revenue estimate from $240.4 million to $234.1 million. For FY24, Belanger lowered the Full story available on Benzinga.com