Revance Therapeutics (NASDAQ:RVNC) Downgraded by Zacks Investment Research to “Sell”

Revance Therapeutics (NASDAQ:RVNCGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday, Zacks.com reports.

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. “

Other analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Revance Therapeutics in a report on Wednesday, January 19th. StockNews.com started coverage on shares of Revance Therapeutics in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.50.

NASDAQ:RVNC opened at $13.88 on Friday. The firm has a market capitalization of $991.46 million, a PE ratio of -3.44 and a beta of 1.05. The firm has a 50-day moving average price of $17.66 and a 200 day moving average price of $15.61. The company has a quick ratio of 3.51, a current ratio of 3.66 and a debt-to-equity ratio of 4.10. Revance Therapeutics has a 12-month low of $11.65 and a 12-month high of $33.83.

Revance Therapeutics (NASDAQ:RVNCGet Rating) last posted its quarterly earnings data on Monday, February 28th. The biopharmaceutical company reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.05. The company had revenue of $25.95 million during the quarter, compared to analyst estimates of $24.56 million. Revance Therapeutics had a negative net margin of 305.27% and a negative return on equity of 219.29%. During the same quarter last year, the business posted ($1.24) earnings per share. On average, research analysts expect that Revance Therapeutics will post -3.56 EPS for the current year.

A number of hedge funds have recently made changes to their positions in RVNC. Point72 Asset Management L.P. bought a new position in Revance Therapeutics in the third quarter valued at approximately $21,029,000. Capital World Investors boosted its position in shares of Revance Therapeutics by 25.1% during the fourth quarter. Capital World Investors now owns 3,712,000 shares of the biopharmaceutical company’s stock worth $60,580,000 after purchasing an additional 745,000 shares in the last quarter. Polar Capital Holdings Plc boosted its position in shares of Revance Therapeutics by 50.9% during the third quarter. Polar Capital Holdings Plc now owns 1,742,997 shares of the biopharmaceutical company’s stock worth $48,560,000 after purchasing an additional 588,263 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Revance Therapeutics by 5,570.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 523,918 shares of the biopharmaceutical company’s stock worth $8,550,000 after purchasing an additional 514,678 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Revance Therapeutics during the fourth quarter worth $8,131,000. 79.94% of the stock is currently owned by hedge funds and other institutional investors.

Revance Therapeutics Company Profile (Get Rating)

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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