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Revance Therapeutics (NASDAQ:RVNC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday, Zacks.com reports.
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 analysts also recently commented on the company. Barclays raised their target price on Revance Therapeutics from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, October 26th. Mizuho lowered their price objective on shares of Revance Therapeutics from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, November 10th. HC Wainwright lifted their price objective on shares of Revance Therapeutics from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 15th. Finally, Needham & Company LLC boosted their target price on shares of Revance Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, January 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $32.25.
They called the 2020 crash 45 days early. Nobody expects what they’re predicting now…
Shares of RVNC stock opened at $28.43 on Friday. The firm has a 50 day moving average of $28.15 and a 200-day moving average of $26.66. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -6.18 and a beta of 1.42. The company has a quick ratio of 7.01, a current ratio of 7.07 and a debt-to-equity ratio of 0.48. Revance Therapeutics has a 52 week low of $11.78 and a 52 week high of $34.62.
Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Monday, November 9th. The biopharmaceutical company reported ($1.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.25). Revance Therapeutics had a negative return on equity of 85.72% and a negative net margin of 5,818.87%. The company had revenue of $3.84 million for the quarter, compared to the consensus estimate of $1.26 million. Analysts anticipate that Revance Therapeutics will post -4.5 earnings per share for the current year.
In other news, insider Aubrey Rankin sold 33,119 shares of the company’s stock in a transaction that occurred on Monday, November 30th. The stock was sold at an average price of $23.85, for a total value of $789,888.15. Following the completion of the transaction, the insider now directly owns 67,871 shares of the company’s stock, valued at $1,618,723.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.80% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in shares of Revance Therapeutics in the third quarter valued at $32,000. Meeder Asset Management Inc. purchased a new stake in Revance Therapeutics in the 3rd quarter worth about $130,000. Amalgamated Bank bought a new stake in Revance Therapeutics in the 3rd quarter valued at about $221,000. Victory Capital Management Inc. purchased a new stake in Revance Therapeutics during the third quarter valued at about $235,000. Finally, Eidelman Virant Capital bought a new position in Revance Therapeutics during the fourth quarter worth about $239,000. 74.35% of the stock is owned by institutional investors and hedge funds.
Revance Therapeutics Company Profile
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 DaxibotulinumtoxinA for injection (DAXI) which competed phase 3 clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; in phase 2 clinical trials to treat adult upper limb spasticity and plantar fasciitis, and in pre-clinical trials to treat chronic migraine.
Further Reading: LIBOR
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