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

Revance Therapeutics, Inc. (NASDAQ:RVNC) has earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $13.75.

Several research firms recently commented on RVNC. Mizuho cut Revance Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $16.00 to $9.00 in a research report on Monday, January 29th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Revance Therapeutics in a research note on Thursday, February 29th. Needham & Company LLC decreased their price objective 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. Piper Sandler dropped their target price on shares of Revance Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Finally, Barclays decreased 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 note on Monday, January 29th.

Revance Therapeutics Stock Down 2.2 %

NASDAQ:RVNC opened at $3.61 on Friday. The stock has a market cap of $376.23 million, a price-to-earnings ratio of -0.95 and a beta of 1.06. The company’s 50 day moving average price is $4.91 and its 200-day moving average price is $6.38. Revance Therapeutics has a 52 week low of $3.21 and a 52 week high of $37.98.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.17. The business had revenue of $69.80 million during the quarter, compared to the consensus estimate of $64.02 million. As a group, sell-side analysts anticipate that Revance Therapeutics will post -2.17 earnings per share for the current year.

Insider Activity at Revance Therapeutics

In other news, insider Dwight Moxie sold 8,125 shares of Revance Therapeutics 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 transaction, the insider now directly owns 137,815 shares of the company’s stock, valued at approximately $694,587.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Revance Therapeutics news, insider Dwight Moxie sold 8,125 shares of the firm’s 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 $40,950.00. Following the sale, the insider now owns 137,815 shares in the company, valued at approximately $694,587.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Tobin Schilke sold 9,361 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was 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 owns 192,666 shares of the company’s stock, valued at $971,036.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,089 shares of company stock worth $143,642. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Revance Therapeutics

Institutional investors have recently bought and sold shares of the business. Rubric Capital Management LP purchased a new position in shares of Revance Therapeutics in the third quarter valued at about $18,352,000. Invesco Ltd. raised its stake in Revance Therapeutics by 66.0% during the 3rd quarter. Invesco Ltd. now owns 2,902,440 shares of the biopharmaceutical company’s stock valued at $33,291,000 after purchasing an additional 1,153,615 shares during the period. CIBC Asset Management Inc lifted its holdings in Revance Therapeutics by 251.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock worth $10,085,000 after purchasing an additional 820,587 shares in the last quarter. EULAV Asset Management boosted its stake in Revance Therapeutics by 275.0% in the 3rd quarter. EULAV Asset Management now owns 600,000 shares of the biopharmaceutical company’s stock worth $6,882,000 after purchasing an additional 440,000 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Revance Therapeutics during the 3rd quarter valued at approximately $4,749,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.