Piper Jaffray analyst David Amsellem says he remains bullish on Revance Therapeutics after the company announced that its Phase III trial evaluating RT001 for the treatment of crow's feet failed to meet its efficacy endpoints. While a "clear disappointment," Revance remains well positioned for long-term value creation given the "impressive" proof-of- concept data for RT002, its long-acting injectable form of botulinum toxin, and its potential development in myriad aesthetic and therapeutic indications, Amsellem tells investors in a research note. He lowered his price target for the shares to $35 from $54 and keeps an Overweight rating on the name. Brean Capital this morning downgraded Revance to Hold.