Zacks Investment Research lowered shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) from a buy rating to a hold rating in a research report sent to investors on Friday.

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. “

A number of other brokerages have also commented on RVNC. ValuEngine upgraded shares of Revance Therapeutics from a sell rating to a hold rating in a report on Friday, June 9th. Aegis reiterated a buy rating and set a $28.00 price target on shares of Revance Therapeutics in a report on Monday, May 1st. BidaskClub upgraded shares of Revance Therapeutics from a sell rating to a hold rating in a report on Friday, August 18th. Piper Jaffray Companies set a $28.00 price target on shares of Revance Therapeutics and gave the stock a buy rating in a report on Wednesday, July 26th. Finally, JMP Securities initiated coverage on shares of Revance Therapeutics in a report on Tuesday. They set an outperform rating and a $34.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $34.80.

Shares of Revance Therapeutics (NASDAQ RVNC) traded down 2.15% during mid-day trading on Friday, reaching $22.80. The company’s stock had a trading volume of 77,885 shares. The firm’s market capitalization is $702.67 million. Revance Therapeutics has a 12 month low of $12.35 and a 12 month high of $28.30. The company has a 50 day moving average of $23.49 and a 200-day moving average of $22.11.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.03. The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. Revance Therapeutics had a negative net margin of 32,936.67% and a negative return on equity of 55.21%. Revance Therapeutics’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.88) earnings per share. Equities research analysts forecast that Revance Therapeutics will post ($3.77) EPS for the current year.

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In related news, CEO L Daniel Browne sold 22,800 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $22.76, for a total value of $518,928.00. Following the transaction, the chief executive officer now owns 178,850 shares in the company, valued at $4,070,626. The transaction was disclosed in a document filed with the SEC, which is available through this link. 18.86% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in RVNC. Bank of America Corp DE raised its position in Revance Therapeutics by 29.5% in the first quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 1,651 shares during the last quarter. Legal & General Group Plc raised its position in Revance Therapeutics by 8.1% in the second quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 438 shares during the last quarter. Trexquant Investment LP purchased a new position in Revance Therapeutics during the second quarter valued at about $231,000. American International Group Inc. raised its position in Revance Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 834 shares during the last quarter. Finally, Voya Investment Management LLC purchased a new position in Revance Therapeutics during the second quarter valued at about $274,000. Institutional investors and hedge funds own 87.94% of the company’s stock.

About Revance Therapeutics

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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