Revance Therapeutics (NASDAQ:RVNC) Reaches New 1-Year High on Analyst Upgrade

Revance Therapeutics, Inc. (NASDAQ:RVNC – Get Rating)’s share price reached a new 52-week high during trading on Wednesday after Piper Sandler raised their price target on the stock from $29.00 to $40.00. Piper Sandler currently has an overweight rating on the stock. Revance Therapeutics traded as high as $34.95 and last traded at $34.84, with a volume of 648158 shares. The stock had previously closed at $34.68.

RVNC has been the subject of a number of other reports. Guggenheim boosted their price target on Revance Therapeutics to $36.00 in a report on Tuesday, November 15th. HC Wainwright upped their price objective on shares of Revance Therapeutics from $29.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Morgan Stanley increased their price objective on Revance Therapeutics from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 24th. Barclays upped their price objective on shares of Revance Therapeutics from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, November 16th. Finally, StockNews.com upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.64.

Insider Activity at Revance Therapeutics

In other Revance Therapeutics news, CFO Tobin Schilke sold 1,000 shares of the company’s stock in a transaction dated Friday, January 20th. The stock was sold at an average price of $31.00, for a total transaction of $31,000.00. Following the sale, the chief financial officer now owns 57,877 shares in the company, valued at approximately $1,794,187. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Revance Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its position in shares of Revance Therapeutics by 6.9% during the second quarter. Assenagon Asset Management S.A. now owns 130,648 shares of the biopharmaceutical company’s stock worth $1,806,000 after buying an additional 8,389 shares in the last quarter. Carnegie Capital Asset Management LLC acquired a new position in shares of Revance Therapeutics during the second quarter worth about $290,000. AlphaCrest Capital Management LLC acquired a new position in shares of Revance Therapeutics during the second quarter worth about $318,000. Delphia USA Inc. acquired a new position in shares of Revance Therapeutics during the second quarter worth about $178,000. Finally, CIBC Asset Management Inc purchased a new stake in Revance Therapeutics during the third quarter worth approximately $13,532,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Revance Therapeutics Price Performance

The firm has a 50 day moving average of $23.98 and a two-hundred day moving average of $23.02. The company has a debt-to-equity ratio of 2.60, a quick ratio of 5.33 and a current ratio of 5.56.

Revance Therapeutics (NASDAQ:RVNC – Get Rating) last posted its earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.32). The business had revenue of $29.02 million for the quarter, compared to analysts’ expectations of $28.76 million. Revance Therapeutics had a negative return on equity of 461.54% and a negative net margin of 251.92%. As a group, sell-side analysts anticipate that Revance Therapeutics, Inc. will post -4.26 earnings per share for the current fiscal year.

About Revance Therapeutics

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Revance Therapeutics, Inc is a clinical stage biotechnology company, which engages in the development, manufacturing, and commercialization of novel botulinum toxin products for multiple aesthetic and therapeutic applications. The firm focuses on production of daxibotulinumtoxinA, a botulinum toxin, for aesthetic and therapeutic indications including facial wrinkles and muscle movement disorders.