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 “strong-buy” rating in a research report issued on Wednesday. The brokerage presently has a $15.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s target price would suggest a potential downside of 14.04% from the company’s current price.
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. “
Separately, Brean Capital reaffirmed a “hold” rating on shares of Revance Therapeutics in a research note on Friday, August 5th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $36.37.
Shares of Revance Therapeutics (NASDAQ:RVNC) opened at 17.45 on Wednesday. The stock’s market capitalization is $497.59 million. Revance Therapeutics has a 1-year low of $12.35 and a 1-year high of $41.12. The firm’s 50-day moving average price is $15.21 and its 200 day moving average price is $15.48.
Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.25. Revance Therapeutics had a negative net margin of 28,187.33% and a negative return on equity of 37.31%. During the same quarter in the prior year, the firm posted ($0.81) earnings per share. Equities research analysts expect that Revance Therapeutics will post ($3.21) earnings per share for the current fiscal year.
In other Revance Therapeutics news, CEO L Daniel Browne sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $14.85, for a total transaction of $178,200.00. Following the sale, the chief executive officer now owns 219,627 shares of the company’s stock, valued at approximately $3,261,460.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 31.15% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in RVNC. BlackRock Group LTD increased its stake in Revance Therapeutics by 4.3% in the third quarter. BlackRock Group LTD now owns 6,398 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 261 shares in the last quarter. BlackRock Advisors LLC increased its stake in Revance Therapeutics by 15.8% in the second quarter. BlackRock Advisors LLC now owns 9,802 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 1,338 shares in the last quarter. FineMark National Bank & Trust increased its stake in Revance Therapeutics by 750.0% in the third quarter. FineMark National Bank & Trust now owns 8,500 shares of the biopharmaceutical company’s stock valued at $138,000 after buying an additional 7,500 shares in the last quarter. Rothschild Asset Management Inc. bought a new stake in Revance Therapeutics during the second quarter valued at $143,000. Finally, American International Group Inc. increased its stake in Revance Therapeutics by 10.9% in the second quarter. American International Group Inc. now owns 11,769 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 1,161 shares in the last quarter.
Revance Therapeutics Company Profile
Revance Therapeutics, Inc is a biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its TransMTS technology enables delivery of botulinum toxin type A through investigational drug product candidates, including DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical, and DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable.
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