Revance Therapeutics, Inc. (NASDAQ:RVNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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 equities analysts also recently issued reports on RVNC. Aegis reaffirmed a “buy” rating and set a $36.00 price target (up from $28.00) on shares of Revance Therapeutics in a research report on Friday, May 19th. ValuEngine raised Revance Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. BidaskClub raised Revance Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Cantor Fitzgerald initiated coverage on Revance Therapeutics in a research report on Thursday, July 20th. They set an “overweight” rating and a $50.00 price target on the stock. Finally, Piper Jaffray Companies set a $28.00 price target on Revance Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Revance Therapeutics has a consensus rating of “Buy” and a consensus target price of $35.20.

Shares of Revance Therapeutics (RVNC) opened at 25.60 on Thursday. The stock’s market capitalization is $788.97 million. Revance Therapeutics has a 52 week low of $12.35 and a 52 week high of $28.30. The firm’s 50-day moving average price is $23.54 and its 200 day moving average price is $22.34.

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

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in shares of Revance Therapeutics by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,304 shares of the biopharmaceutical company’s stock valued at $483,000 after acquiring an additional 1,275 shares during the period. PointState Capital LP increased its position in shares of Revance Therapeutics by 58.5% in the 2nd quarter. PointState Capital LP now owns 438,200 shares of the biopharmaceutical company’s stock valued at $11,568,000 after acquiring an additional 161,700 shares during the period. State Street Corp increased its position in shares of Revance Therapeutics by 0.6% in the 2nd quarter. State Street Corp now owns 452,490 shares of the biopharmaceutical company’s stock valued at $11,944,000 after acquiring an additional 2,637 shares during the period. Royal Bank of Canada increased its position in shares of Revance Therapeutics by 18.1% in the 2nd quarter. Royal Bank of Canada now owns 23,768 shares of the biopharmaceutical company’s stock valued at $627,000 after acquiring an additional 3,637 shares during the period. Finally, QS Investors LLC acquired a new position in shares of Revance Therapeutics in the 2nd quarter valued at $1,564,000. 89.32% of the stock is currently owned by hedge funds and other institutional investors.

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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