Revance Therapeutics (NASDAQ:RVNC) Trading Up 4%

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) were up 4% during trading on Wednesday . The stock traded as high as $4.95 and last traded at $4.89. Approximately 177,544 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,825,774 shares. The stock had previously closed at $4.70.

Wall Street Analyst Weigh In

RVNC has been the topic of a number of recent analyst reports. Piper Sandler reduced their price target on Revance Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Revance Therapeutics in a report on Thursday, February 29th. Mizuho lowered shares of Revance Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $9.00 in a report on Monday, January 29th. Barclays dropped their price objective on Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, January 29th. Finally, Needham & Company LLC reduced their target price on Revance Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.75.

Revance Therapeutics Price Performance

The firm has a fifty day moving average of $5.62 and a 200-day moving average of $7.82. The company has a debt-to-equity ratio of 14.20, a current ratio of 3.80 and a quick ratio of 3.29.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.17. Revance Therapeutics had a negative return on equity of 903.28% and a negative net margin of 138.43%. The firm had revenue of $69.80 million for the quarter, compared to analyst estimates of $64.02 million. On average, analysts forecast that Revance Therapeutics, Inc. will post -2.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Tobin Schilke sold 9,361 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $47,179.44. Following the completion of the sale, the chief financial officer now directly owns 192,666 shares in the company, valued at $971,036.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Revance Therapeutics news, CFO Tobin Schilke sold 9,361 shares of Revance Therapeutics stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $47,179.44. Following the sale, the chief financial officer now directly owns 192,666 shares in the company, valued at approximately $971,036.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dwight Moxie sold 8,125 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $40,950.00. Following the transaction, the insider now owns 137,815 shares of the company’s stock, valued at $694,587.60. The disclosure for this sale can be found here. Insiders have sold 26,697 shares of company stock worth $134,553 in the last quarter. 5.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. grew its stake in Revance Therapeutics by 63.2% in the third quarter. Assetmark Inc. now owns 3,257 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,261 shares in the last quarter. West Tower Group LLC acquired a new position in shares of Revance Therapeutics in the 2nd quarter worth approximately $39,000. Money Concepts Capital Corp bought a new stake in shares of Revance Therapeutics in the 4th quarter valued at approximately $40,000. Comerica Bank acquired a new stake in shares of Revance Therapeutics during the 3rd quarter valued at approximately $40,000. Finally, Advisor Group Holdings Inc. lifted its stake in Revance Therapeutics by 60.6% during the first quarter. Advisor Group Holdings Inc. now owns 2,838 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 1,071 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

About Revance Therapeutics

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally. The company's lead drug candidate is DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed phase II clinical trials to treat upper facial lines, moderate or severe dynamic forehead lines, and moderate or severe lateral canthal lines; and has completed Phase II clinical trials for the treatment of adult upper limb spasticity and plantar fasciitis.