Revance Therapeutics, Inc. (RVNC) Now Covered by Analysts at JMP Securities
JMP Securities started coverage on shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $34.00 target price on the biopharmaceutical company’s stock.
RVNC has been the subject of several other reports. BidaskClub upgraded shares of Revance Therapeutics from a hold rating to a buy rating in a report on Thursday, July 6th. Aegis restated a buy rating and issued a $28.00 price objective on shares of Revance Therapeutics in a report on Monday, May 1st. Zacks Investment Research upgraded shares of Revance Therapeutics from a sell rating to a buy rating and set a $25.00 price objective for the company in a report on Wednesday, August 9th. Piper Jaffray Companies set a $28.00 price objective on shares of Revance Therapeutics and gave the stock a buy rating in a report on Wednesday, July 26th. Finally, ValuEngine upgraded shares of Revance Therapeutics from a sell rating to a hold rating in a report on Friday, June 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Revance Therapeutics has an average rating of Buy and an average price target of $34.80.
Revance Therapeutics (NASDAQ RVNC) opened at 22.80 on Tuesday. The company has a 50-day moving average of $23.49 and a 200-day moving average of $22.11. Revance Therapeutics has a 52 week low of $12.35 and a 52 week high of $28.30. The firm’s market capitalization is $702.67 million.
Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.93) by $0.03. Revance Therapeutics had a negative net margin of 32,936.67% and a negative return on equity of 55.21%. The business had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.05 million. During the same period in the prior year, the business earned ($0.88) EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts forecast that Revance Therapeutics will post ($3.77) earnings per share for the current fiscal year.
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In related news, CEO L Daniel Browne sold 22,800 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $22.76, for a total value of $518,928.00. Following the completion of the transaction, the chief executive officer now directly owns 178,850 shares in the company, valued at approximately $4,070,626. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.86% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of RVNC. Goldman Sachs Group Inc. raised its position in shares of Revance Therapeutics by 34.7% in the first quarter. Goldman Sachs Group Inc. now owns 548,650 shares of the biopharmaceutical company’s stock valued at $11,412,000 after buying an additional 141,400 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Revance Therapeutics during the first quarter valued at about $739,000. Acadian Asset Management LLC acquired a new position in shares of Revance Therapeutics during the first quarter valued at about $735,000. Essex Investment Management Co. LLC raised its position in shares of Revance Therapeutics by 26.6% in the second quarter. Essex Investment Management Co. LLC now owns 124,932 shares of the biopharmaceutical company’s stock valued at $3,298,000 after buying an additional 26,248 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Revance Therapeutics by 6.8% in the first quarter. Swiss National Bank now owns 32,850 shares of the biopharmaceutical company’s stock valued at $683,000 after buying an additional 2,100 shares during the last quarter. Institutional investors 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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