Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Revance Therapeutics, Inc. (NASDAQ:RVNC) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.75.

RVNC has been the subject of a number of research reports. Barclays dropped their target price on shares of Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating for the company in a research report on Monday, January 29th. Piper Sandler cut their price target on Revance Therapeutics from $42.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Revance Therapeutics in a report on Thursday, February 29th. Needham & Company LLC cut their target price on shares of Revance Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, The Goldman Sachs Group boosted their price target on shares of Revance Therapeutics from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st.

Insider Activity

In other news, insider Dwight Moxie sold 8,125 shares of Revance Therapeutics stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $40,950.00. Following the transaction, the insider now owns 137,815 shares of the company’s stock, valued at approximately $694,587.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Dwight Moxie sold 8,125 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $40,950.00. Following the sale, the insider now owns 137,815 shares in the company, valued at $694,587.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tobin Schilke sold 9,361 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $5.04, for a total transaction of $47,179.44. Following the completion of the transaction, the chief financial officer now directly owns 192,666 shares of the company’s stock, valued at $971,036.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,089 shares of company stock worth $143,642. 5.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Revance Therapeutics

Institutional investors have recently bought and sold shares of the business. Assetmark Inc. boosted its holdings in Revance Therapeutics by 63.2% in the third quarter. Assetmark Inc. now owns 3,257 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,261 shares during the last quarter. Swiss National Bank boosted its position in Revance Therapeutics by 1.2% in the 3rd quarter. Swiss National Bank now owns 184,750 shares of the biopharmaceutical company’s stock worth $2,119,000 after purchasing an additional 2,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Revance Therapeutics by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,083 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 2,622 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Revance Therapeutics by 3.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 99,129 shares of the biopharmaceutical company’s stock valued at $1,137,000 after purchasing an additional 3,478 shares in the last quarter. Finally, Daymark Wealth Partners LLC lifted its stake in shares of Revance Therapeutics by 20.8% in the 4th quarter. Daymark Wealth Partners LLC now owns 29,000 shares of the biopharmaceutical company’s stock valued at $255,000 after purchasing an additional 5,000 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Revance Therapeutics Stock Down 7.8 %

Shares of RVNC opened at $3.29 on Friday. Revance Therapeutics has a 52 week low of $3.23 and a 52 week high of $37.98. The stock has a market cap of $342.88 million, a price-to-earnings ratio of -0.87 and a beta of 1.05. The business has a 50-day simple moving average of $5.03 and a two-hundred day simple moving average of $6.55.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.17. The firm had revenue of $69.80 million for the quarter, compared to analysts’ expectations of $64.02 million. On average, equities analysts anticipate that Revance Therapeutics will post -2.17 earnings per share for the current fiscal year.

About Revance Therapeutics

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 DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed 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.