Zacks Investment Research cut shares of Revance Therapeutics (NASDAQ:RVNC) from a hold rating to a sell rating in a research report report published on Wednesday morning.
According to Zacks, “Revance is a Silicon Valley-based biotechnology company. The company is developing a portfolio of products for aesthetic medicine and underserved therapeutic specialties, including dermatology and neurology. Revance’s science is based upon a proprietary TransMTS® peptide technology, which when combined with active drug molecules, may help address current unmet needs. Revance’s initial focus is on developing daxibotulinumtoxinA, the company’s highly purified botulinum toxin, for a broad spectrum of aesthetic and therapeutic indications, including facial wrinkles and muscle movement disorders. The company’s lead drug candidate, DaxibotulinumtoxinA for Injection (RT002), is currently in development for the treatment of glabellar lines and cervical dystonia and has the potential to be the first long-acting neurotoxin. The company holds worldwide rights for all indications of RT002 injectable and RT001 topical and the pharmaceutical uses of the TransMTS technology platform. “
A number of other research analysts have also weighed in on the company. BidaskClub raised Revance Therapeutics from a strong sell rating to a sell rating in a report on Wednesday. ValuEngine raised Revance Therapeutics from a sell rating to a hold rating in a report on Friday, February 2nd. Cowen set a $55.00 target price on Revance Therapeutics and gave the company a buy rating in a report on Wednesday, January 17th. Guggenheim lowered Revance Therapeutics from a buy rating to a hold rating in a report on Tuesday, January 9th. Finally, Mizuho reaffirmed a buy rating and set a $54.00 target price on shares of Revance Therapeutics in a report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Revance Therapeutics currently has an average rating of Buy and a consensus target price of $44.30.
Revance Therapeutics (RVNC) opened at $31.20 on Wednesday. The firm has a market capitalization of $1,135.82, a PE ratio of -8.21 and a beta of 1.36. Revance Therapeutics has a twelve month low of $18.00 and a twelve month high of $37.45.
In other news, CEO L Daniel Browne sold 7,600 shares of Revance Therapeutics stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $24.94, for a total transaction of $189,544.00. Following the completion of the sale, the chief executive officer now owns 133,188 shares in the company, valued at approximately $3,321,708.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 18.86% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of Revance Therapeutics by 3.2% during the 4th quarter. Franklin Resources Inc. now owns 3,394,202 shares of the biopharmaceutical company’s stock valued at $121,343,000 after acquiring an additional 105,424 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Revance Therapeutics by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,144,669 shares of the biopharmaceutical company’s stock valued at $76,672,000 after acquiring an additional 135,356 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Revance Therapeutics by 7.3% during the 2nd quarter. Vanguard Group Inc. now owns 931,623 shares of the biopharmaceutical company’s stock valued at $24,595,000 after acquiring an additional 63,505 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Revance Therapeutics by 4,063.7% during the 4th quarter. Alliancebernstein L.P. now owns 907,695 shares of the biopharmaceutical company’s stock valued at $32,450,000 after acquiring an additional 885,895 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Revance Therapeutics by 127.1% during the 4th quarter. Jennison Associates LLC now owns 857,536 shares of the biopharmaceutical company’s stock valued at $30,657,000 after acquiring an additional 480,008 shares during the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.
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Revance Therapeutics Company Profile
Revance Therapeutics, Inc is a clinical-stage biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical.
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