Revance Therapeutics, Inc. (RVNC) Stock Rating Upgraded by Zacks Investment Research
Revance Therapeutics, Inc. (NASDAQ:RVNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $26.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.87% from the company’s previous close.
According to Zacks, “Revance is a Silicon Valley-based biotechnology company. The company is developing a portfolio of products for aesthetic medicine and underserved therapeutic specialties, including dermatology and neurology. Revance’s science is based upon a proprietary TransMTS® peptide technology, which when combined with active drug molecules, may help address current unmet needs. Revance’s initial focus is on developing daxibotulinumtoxinA, the company’s highly purified botulinum toxin, for a broad spectrum of aesthetic and therapeutic indications, including facial wrinkles and muscle movement disorders. The company’s lead drug candidate, DaxibotulinumtoxinA for Injection (RT002), is currently in development for the treatment of glabellar lines and cervical dystonia and has the potential to be the first long-acting neurotoxin. The company holds worldwide rights for all indications of RT002 injectable and RT001 topical and the pharmaceutical uses of the TransMTS technology platform. “
Other equities research analysts have also recently issued research reports about the company. Piper Jaffray Companies set a $28.00 price objective on Revance Therapeutics and gave the stock a “buy” rating in a report on Wednesday, July 26th. Aegis restated a “buy” rating and set a $36.00 price objective on shares of Revance Therapeutics in a report on Thursday, June 8th. BidaskClub upgraded Revance Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. ValuEngine upgraded Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Finally, Cantor Fitzgerald initiated coverage on Revance Therapeutics in a report on Thursday, July 20th. They set an “overweight” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.00.
Revance Therapeutics (RVNC) opened at 23.45 on Tuesday. The stock has a 50 day moving average price of $24.29 and a 200 day moving average price of $21.96. Revance Therapeutics has a 52 week low of $12.35 and a 52 week high of $28.30. The firm’s market cap is $722.71 million.
Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $0.03. Revance Therapeutics had a negative return on equity of 55.21% and a negative net margin of 32,936.67%. The business had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter last year, the firm earned ($0.88) earnings per share. The business’s revenue was up .0% on a year-over-year basis. Equities research analysts expect that Revance Therapeutics will post ($3.75) EPS for the current year.
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In related news, CFO Lauren P. Silvernail sold 1,793 shares of Revance Therapeutics stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $20.20, for a total value of $36,218.60. Following the transaction, the chief financial officer now owns 36,566 shares in the company, valued at $738,633.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO L Daniel Browne sold 12,287 shares of Revance Therapeutics stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.20, for a total value of $248,197.40. Following the completion of the transaction, the chief executive officer now owns 183,932 shares in the company, valued at approximately $3,715,426.40. The disclosure for this sale can be found here. Insiders sold 33,793 shares of company stock worth $685,576 in the last quarter. 18.86% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in shares of Revance Therapeutics by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 18,304 shares of the biopharmaceutical company’s stock worth $483,000 after buying an additional 1,275 shares during the last quarter. PointState Capital LP boosted its position in shares of Revance Therapeutics by 58.5% in the second quarter. PointState Capital LP now owns 438,200 shares of the biopharmaceutical company’s stock worth $11,568,000 after buying an additional 161,700 shares during the last quarter. State Street Corp boosted its position in shares of Revance Therapeutics by 0.6% in the second quarter. State Street Corp now owns 452,490 shares of the biopharmaceutical company’s stock worth $11,944,000 after buying an additional 2,637 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Revance Therapeutics by 18.1% in the second quarter. Royal Bank of Canada now owns 23,768 shares of the biopharmaceutical company’s stock worth $627,000 after buying an additional 3,637 shares during the last quarter. Finally, QS Investors LLC purchased a new position in shares of Revance Therapeutics during the second quarter worth $1,564,000. Hedge funds and other institutional investors own 87.94% of the company’s stock.
Revance Therapeutics Company Profile
Revance Therapeutics, Inc is a clinical-stage biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical.
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