Barclays started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report report published on Tuesday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $28.00 price objective on the biopharmaceutical company’s stock.
RVNC has been the subject of several other research reports. Wells Fargo & Co began coverage on shares of Revance Therapeutics in a research report on Friday, February 15th. They set a market perform rating and a $17.83 price target for the company. SunTrust Banks reduced their price objective on shares of Revance Therapeutics to $29.00 and set a buy rating on the stock in a research note on Friday, March 1st. Mizuho reissued a buy rating on shares of Revance Therapeutics in a research note on Wednesday, February 27th. HC Wainwright assumed coverage on shares of Revance Therapeutics in a research note on Thursday, February 14th. They set a buy rating and a $25.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Revance Therapeutics from a buy rating to a hold rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $33.09.
RVNC opened at $10.86 on Tuesday. The company has a quick ratio of 8.13, a current ratio of 8.13 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $477.92 million, a price-to-earnings ratio of -2.76 and a beta of 0.90. Revance Therapeutics has a 1-year low of $10.37 and a 1-year high of $31.65.
Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.02). Revance Therapeutics had a negative return on equity of 75.31% and a negative net margin of 3,745.97%. The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $1.85 million. As a group, equities research analysts forecast that Revance Therapeutics will post -3.63 EPS for the current year.
In related news, CEO L Daniel Browne sold 11,613 shares of Revance Therapeutics stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $15.51, for a total transaction of $180,117.63. Following the transaction, the chief executive officer now owns 165,687 shares of the company’s stock, valued at approximately $2,569,805.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc bought a new position in Revance Therapeutics in the first quarter valued at approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Revance Therapeutics by 97.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,352 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 1,159 shares in the last quarter. Edge Wealth Management LLC lifted its stake in Revance Therapeutics by 550.0% in the first quarter. Edge Wealth Management LLC now owns 3,250 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 2,750 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Revance Therapeutics by 103.0% in the first quarter. Great West Life Assurance Co. Can now owns 5,183 shares of the biopharmaceutical company’s stock valued at $81,000 after buying an additional 2,630 shares in the last quarter. Finally, BNP Paribas Arbitrage SA bought a new position in Revance Therapeutics in the first quarter valued at approximately $125,000. 94.65% of the stock is currently owned by institutional investors and hedge funds.
About Revance Therapeutics
Revance Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development, manufacture, and commercialization of novel neuromodulators for various aesthetic and therapeutic indications. The company's lead drug candidate is DaxibotulinumtoxinA for injection (DAXI), which is in phase III clinical trials to treat glabellar (frown) lines and cervical dystonia; and in phase II clinical trials for the treatment of plantar fasciitis, adult upper limb spasticity, and chronic migraine.
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