StockNews.com Lowers Revance Therapeutics (NASDAQ:RVNC) to Sell

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Revance Therapeutics (NASDAQ:RVNC – Get Rating) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

RVNC has been the subject of several other reports. HC Wainwright lifted their price target on shares of Revance Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Friday, September 9th. Needham & Company LLC upped their price objective on shares of Revance Therapeutics from $25.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, September 8th. Cowen increased their target price on shares of Revance Therapeutics from $55.00 to $65.00 in a report on Thursday, September 8th. Wells Fargo & Company raised their price objective on shares of Revance Therapeutics from $17.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, August 25th. Finally, Mizuho raised their price objective on shares of Revance Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Revance Therapeutics Stock Down 2.5 %

RVNC stock opened at $24.39 on Tuesday. Revance Therapeutics has a one year low of $11.27 and a one year high of $30.00. The company has a 50 day moving average price of $20.90 and a two-hundred day moving average price of $17.60. The stock has a market capitalization of $1.78 billion, a P/E ratio of -6.34 and a beta of 0.92. The company has a debt-to-equity ratio of 14.80, a quick ratio of 3.20 and a current ratio of 3.38.

Revance Therapeutics (NASDAQ:RVNC – Get Rating) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.03. The business had revenue of $28.37 million for the quarter, compared to analyst estimates of $27.64 million. Revance Therapeutics had a negative net margin of 265.04% and a negative return on equity of 497.77%. As a group, sell-side analysts expect that Revance Therapeutics will post -3.69 EPS for the current year.

Insider Buying and Selling

In other news, SVP Dwight Moxie sold 11,000 shares of Revance Therapeutics stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $27.07, for a total transaction of $297,770.00. Following the sale, the senior vice president now owns 31,694 shares in the company, valued at $857,956.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Revance Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Palo Alto Investors LP raised its stake in Revance Therapeutics by 1.1% during the first quarter. Palo Alto Investors LP now owns 4,415,689 shares of the biopharmaceutical company’s stock worth $86,106,000 after acquiring an additional 46,323 shares during the period. Dimensional Fund Advisors LP raised its stake in Revance Therapeutics by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 131,661 shares of the biopharmaceutical company’s stock worth $2,149,000 after acquiring an additional 8,801 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Revance Therapeutics during the first quarter worth about $3,902,000. Point72 Asset Management L.P. raised its stake in Revance Therapeutics by 16.8% during the fourth quarter. Point72 Asset Management L.P. now owns 881,482 shares of the biopharmaceutical company’s stock worth $14,386,000 after acquiring an additional 126,682 shares during the period. Finally, Waypoint Capital Advisors LLC acquired a new stake in shares of Revance Therapeutics in the first quarter valued at approximately $1,016,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Revance Therapeutics Company Profile

(Get Rating)

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, which has completed phase III clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; is in 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.

Further Reading

Analyst Recommendations for Revance Therapeutics (NASDAQ:RVNC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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