BidaskClub Downgrades Revance Therapeutics (RVNC) to Strong Sell
Revance Therapeutics (NASDAQ:RVNC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research upgraded Revance Therapeutics from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, November 7th. Cantor Fitzgerald restated a “buy” rating and issued a $50.00 target price on shares of Revance Therapeutics in a research note on Thursday, November 1st. ValuEngine upgraded Revance Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Piper Jaffray Companies reiterated a “buy” rating on shares of Revance Therapeutics in a report on Monday, September 17th. Finally, JMP Securities cut Revance Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $46.60.
Shares of NASDAQ RVNC opened at $20.99 on Friday. The stock has a market capitalization of $836.66 million, a price-to-earnings ratio of -5.23 and a beta of 1.35. Revance Therapeutics has a twelve month low of $20.59 and a twelve month high of $37.45.
In other news, insider Cyril Allouche sold 2,188 shares of the company’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $23.72, for a total value of $51,899.36. Following the completion of the transaction, the insider now directly owns 6,938 shares in the company, valued at approximately $164,569.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.05% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of RVNC. Xact Kapitalforvaltning AB purchased a new position in shares of Revance Therapeutics in the 2nd quarter worth about $209,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Revance Therapeutics by 43.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,795 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 2,654 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Revance Therapeutics by 25.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 2,232 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Revance Therapeutics by 19.6% in the 2nd quarter. Voya Investment Management LLC now owns 12,433 shares of the biopharmaceutical company’s stock worth $341,000 after purchasing an additional 2,041 shares in the last quarter. Finally, Nottingham Advisors Inc. boosted its holdings in Revance Therapeutics by 17.7% during the 2nd quarter. Nottingham Advisors Inc. now owns 13,312 shares of the biopharmaceutical company’s stock valued at $365,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 94.14% of the company’s stock.
Revance Therapeutics Company Profile
Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.
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