Revance Therapeutics, Inc. (RVNC) Stock Rating Lowered by Zacks Investment Research
Revance Therapeutics, Inc. (NASDAQ:RVNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
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. “
Several other equities analysts also recently weighed in on RVNC. Aegis restated a “buy” rating and set a $28.00 price target on shares of Revance Therapeutics in a report on Monday, May 1st. ValuEngine upgraded Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. BidaskClub upgraded Revance Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Cantor Fitzgerald began coverage on Revance Therapeutics in a report on Thursday, July 20th. They set an “overweight” rating and a $50.00 price target for the company. Finally, Piper Jaffray Companies set a $28.00 price target on Revance Therapeutics and gave the company a “buy” rating in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $34.80.
Revance Therapeutics (RVNC) opened at 22.80 on Friday. The firm’s market cap is $702.67 million. Revance Therapeutics has a one year low of $12.35 and a one year high of $28.30. The company’s 50-day moving average is $23.49 and its 200 day moving average is $22.11.
Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.93) by $0.03. The business had revenue of $0.08 million during the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.88) earnings per share. Equities analysts anticipate that Revance Therapeutics will post ($3.77) earnings per share for the current year.
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In other news, CEO L Daniel Browne sold 22,800 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $22.76, for a total transaction 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 $4,070,626. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.86% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its position in shares of Revance Therapeutics by 8.1% in the second quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 438 shares during the last quarter. Bank of America Corp DE increased its position in shares of Revance Therapeutics by 29.5% in the first quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 1,651 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Revance Therapeutics during the second quarter valued at $231,000. Voya Investment Management LLC bought a new position in shares of Revance Therapeutics during the second quarter valued at $274,000. Finally, American International Group Inc. increased its position in shares of Revance Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 834 shares during the last quarter. Hedge funds and other institutional investors own 87.94% 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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