The Goldman Sachs Group began coverage on shares of Revance Therapeutics (NASDAQ:RVNC – Get Rating) in a research note published on Thursday morning, The Fly reports. The firm issued a buy rating and a $33.00 target price on the biopharmaceutical company's stock.
RVNC has been the subject of several other research reports. Needham & Company LLC upped their price target on Revance Therapeutics from $25.00 to $35.00 and gave the stock a buy rating in a report on Thursday, September 8th. Cowen upped their price target on Revance Therapeutics from $55.00 to $65.00 in a report on Thursday, September 8th. Guggenheim upped their price target on Revance Therapeutics to $35.00 in a report on Monday, August 15th. HC Wainwright upped their price target on Revance Therapeutics from $25.00 to $29.00 and gave the stock a buy rating in a report on Friday, September 9th. Finally, Wells Fargo & Company upped their price target on Revance Therapeutics from $17.00 to $24.00 and gave the stock an equal weight rating in a report on Thursday, August 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $39.00.
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Revance Therapeutics Trading Down 2.1 %
NASDAQ RVNC opened at $25.02 on Thursday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -6.50 and a beta of 0.92. Revance Therapeutics has a 52 week low of $11.27 and a 52 week high of $30.00. The business has a 50 day moving average price of $20.90 and a 200-day moving average price of $17.60. The company has a quick ratio of 3.20, a current ratio of 3.38 and a debt-to-equity ratio of 14.80.
Revance Therapeutics (NASDAQ:RVNC – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.03. The firm had revenue of $28.37 million during the quarter, compared to the consensus estimate of $27.64 million. Revance Therapeutics had a negative return on equity of 497.77% and a negative net
margin of 265.04%. As a group, equities analysts expect that Revance Therapeutics will post -3.69 earnings per share for the current fiscal year.
Insider Activity
In other news, SVP Dwight Moxie sold 11,000 shares of the company's stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $27.07, for a total transaction of $297,770.00. Following the transaction, the senior vice president now owns 31,694 shares of the company's stock, valued at approximately $857,956.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.10% of the company's stock.
Institutional Trading of Revance Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in RVNC. Dimensional Fund Advisors LP raised its stake in shares of Revance Therapeutics by 7.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 131,661 shares of the biopharmaceutical company's stock valued at $2,149,000 after purchasing an additional 8,801 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Revance Therapeutics by 18.6% during the 4th quarter. Teacher Retirement System of Texas now owns 12,940 shares of the biopharmaceutical company's stock valued at $211,000 after purchasing an additional 2,032 shares during the period. Rafferty Asset Management LLC raised its stake in shares of Revance Therapeutics by 88.7% during the 4th quarter. Rafferty Asset Management LLC now owns 14,724 shares of the biopharmaceutical company's stock valued at $240,000 after purchasing an additional 6,923 shares during the period. Ensign Peak Advisors Inc bought a new stake in shares of Revance Therapeutics during the 4th quarter valued at $216,000. Finally, Rice Hall James & Associates LLC raised its stake in shares of Revance Therapeutics by 21.1% during the 4th quarter. Rice Hall James & Associates LLC now owns 1,113,945 shares of the biopharmaceutical company's stock valued at $18,180,000 after purchasing an additional 194,185 shares during the period. 77.08% of the stock is currently owned by institutional investors.
Revance Therapeutics Company Profile
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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.
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