Zacks Investment Research upgraded shares of Revance Therapeutics (NASDAQ:RVNC) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $14.00 price target on the biopharmaceutical company’s stock.
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. “
RVNC has been the topic of several other research reports. ValuEngine upgraded shares of Revance Therapeutics from a sell rating to a hold rating in a report on Thursday, August 1st. BidaskClub lowered shares of Revance Therapeutics from a hold rating to a sell rating in a report on Friday, October 4th. Barclays assumed coverage on shares of Revance Therapeutics in a report on Tuesday, June 11th. They set an overweight rating and a $28.00 target price on the stock. Finally, William Blair restated an outperform rating on shares of Revance Therapeutics in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $32.43.
Shares of NASDAQ:RVNC traded up $0.52 during midday trading on Wednesday, hitting $12.18. 201,825 shares of the company’s stock traded hands, compared to its average volume of 343,625. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.59 and a current ratio of 5.59. The firm’s fifty day moving average price is $12.22 and its two-hundred day moving average price is $12.52. Revance Therapeutics has a twelve month low of $9.88 and a twelve month high of $26.89.
Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.86). Revance Therapeutics had a negative net margin of 3,745.97% and a negative return on equity of 79.28%. As a group, equities research analysts expect that Revance Therapeutics will post -3.73 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new stake in Revance Therapeutics during the 2nd quarter worth $37,000. Bank of Montreal Can increased its stake in Revance Therapeutics by 217.7% during the 2nd quarter. Bank of Montreal Can now owns 10,301 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 7,059 shares during the period. First Republic Investment Management Inc. purchased a new stake in Revance Therapeutics during the 2nd quarter worth $143,000. M&T Bank Corp purchased a new stake in Revance Therapeutics during the 2nd quarter worth $153,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Revance Therapeutics during the 1st quarter worth $170,000. 98.68% of the stock is currently owned by hedge funds and other institutional investors.
Revance Therapeutics Company Profile
Revance Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development, manufacture, and commercialization of novel neuromodulators for various aesthetic and therapeutic indications. The company's lead drug candidate is DaxibotulinumtoxinA for injection (DAXI), which is in phase III clinical trials to treat glabellar (frown) lines and cervical dystonia; and in phase II clinical trials for the treatment of plantar fasciitis, adult upper limb spasticity, and chronic migraine.
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