The Overweight rating indicates a positive outlook on the stock, suggesting that Piper Sandler believes RVNC will outperform its sector or the market. However, lowering the price target could reflect revised expectations for the company's future growth prospects, potential challenges it may face, or a broader market recalibration. This adjustment is likely to have a mixed short-term impact on RVNC's stock price, as the market digests the positive endorsement against the backdrop of a lowered valuation benchmark.