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 on Tuesday. The firm presently has a $28.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 16.18% 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. “
A number of other research analysts also recently commented on RVNC. Aegis reiterated a “buy” rating and set a $36.00 price objective on shares of Revance Therapeutics in a research note on Thursday, June 8th. ValuEngine upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. BidaskClub upgraded shares of Revance Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Cantor Fitzgerald initiated coverage on shares of Revance Therapeutics in a research note on Thursday, July 20th. They set an “overweight” rating and a $50.00 price objective on the stock. Finally, Piper Jaffray Companies set a $28.00 price objective on shares of Revance Therapeutics and gave the company a “buy” rating in a research note on Wednesday, July 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $35.20.
Shares of Revance Therapeutics (NASDAQ:RVNC) opened at 24.10 on Tuesday. The company’s 50-day moving average is $23.75 and its 200 day moving average is $22.58. Revance Therapeutics has a 52 week low of $12.35 and a 52 week high of $28.30. The firm’s market capitalization is $742.74 million.
Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the Zacks’ 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 firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. During the same period in the prior year, the firm posted ($0.88) EPS. The firm’s revenue was up .0% compared to the same quarter last year. Analysts anticipate that Revance Therapeutics will post ($3.77) EPS for the current fiscal year.
In other news, CEO L Daniel Browne sold 22,800 shares of the firm’s 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 transaction, the chief executive officer now directly owns 178,850 shares in the company, valued at approximately $4,070,626. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 18.86% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Revance Therapeutics by 34.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 548,650 shares of the biopharmaceutical company’s stock worth $11,412,000 after buying an additional 141,400 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Revance Therapeutics in the 1st quarter worth about $739,000. JPMorgan Chase & Co. lifted its position in shares of Revance Therapeutics by 4.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,626,603 shares of the biopharmaceutical company’s stock worth $95,743,000 after buying an additional 166,759 shares during the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Revance Therapeutics by 26.6% in the 2nd quarter. Essex Investment Management Co. LLC now owns 124,932 shares of the biopharmaceutical company’s stock worth $3,298,000 after buying an additional 26,248 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Revance Therapeutics by 13.1% in the 2nd quarter. Franklin Resources Inc. now owns 3,375,238 shares of the biopharmaceutical company’s stock worth $89,106,000 after buying an additional 391,638 shares during the last quarter. Institutional investors own 89.32% 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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