Revance Therapeutics, Inc. (NASDAQ:RVNC – Get Rating) shares reached a new 52-week high during mid-day trading on Thursday after HC Wainwright raised their price target on the stock from $29.00 to $42.00. HC Wainwright currently has a buy rating on the stock. Revance Therapeutics traded as high as $34.37 and last traded at $34.26, with a volume of 353708 shares trading hands. The stock had previously closed at $32.51.
Other equities research analysts also recently issued reports about the company. Barclays lifted their target price on Revance Therapeutics from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 16th. Morgan Stanley upped their target price on shares of Revance Therapeutics from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Tuesday. StockNews.com cut shares of Revance Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, October 13th. Needham & Company LLC lifted their target price on Revance Therapeutics from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, January 10th. Finally, Guggenheim lifted their price objective on Revance Therapeutics to $36.00 in a report on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Revance Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $39.60.
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Insider Buying and Selling
In related news, CFO Tobin Schilke sold 1,000 shares of the business's stock in a transaction on Friday, January 20th. The stock was sold at an average price of $31.00, for a total value of $31,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,877 shares in the company, valued at approximately $1,794,187. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.10% of the stock is owned by insiders.
Institutional Trading of Revance Therapeutics
A number of institutional investors have recently modified their holdings of RVNC. Assenagon Asset Management S.A. lifted its position in shares of Revance Therapeutics by 6.9% during the 2nd 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 during the last quarter. Carnegie Capital Asset Management LLC acquired a new position in Revance Therapeutics in the 2nd quarter worth about $290,000. AlphaCrest Capital Management LLC acquired a new position in Revance Therapeutics in the 2nd quarter worth about $318,000. Delphia USA Inc. acquired a new position in Revance Therapeutics in the 2nd quarter worth about $178,000. Finally, CIBC Asset Management Inc acquired a new position in Revance Therapeutics in the 3rd quarter worth about $13,532,000. 82.68% of the stock is currently owned by institutional investors.
Revance Therapeutics Trading Up 4.2 %
The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -8.64 and a beta of 0.57. The business has a fifty day simple moving average of $23.32 and a 200-day simple moving average of $22.51. 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 issued its quarterly 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 company had revenue of $29.02 million during the quarter, compared to analyst estimates of $28.76 million. Revance Therapeutics had a negative net margin of 251.92% and a negative return on equity of 461.54%. As a group, equities analysts forecast that Revance Therapeutics, Inc. will post -4.32 earnings per share for the current fiscal year.
About Revance Therapeutics
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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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