Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Revance Therapeutics, Inc. (NASDAQ:RVNC) has earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $13.75.

RVNC has been the subject of a number of recent analyst reports. Mizuho downgraded Revance Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $9.00 in a research report on Monday, January 29th. Piper Sandler lowered their price target on Revance Therapeutics from $42.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Revance Therapeutics in a research note on Thursday, February 29th. Barclays lowered their target price on shares of Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, January 29th. Finally, The Goldman Sachs Group increased their price target on shares of Revance Therapeutics from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st.

Insider Activity

In other Revance Therapeutics news, President Dustin S. Sjuts sold 9,211 shares of Revance Therapeutics stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $46,423.44. Following the sale, the president now directly owns 167,550 shares in the company, valued at approximately $844,452. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Revance Therapeutics news, insider Dwight Moxie sold 8,125 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $5.04, for a total transaction of $40,950.00. Following the sale, the insider now directly owns 137,815 shares of the company’s stock, valued at $694,587.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Dustin S. Sjuts sold 9,211 shares of Revance Therapeutics stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $46,423.44. Following the completion of the transaction, the president now owns 167,550 shares of the company’s stock, valued at $844,452. The disclosure for this sale can be found here. Insiders sold 29,089 shares of company stock worth $143,642 over the last ninety days. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Assetmark Inc. increased its holdings in shares of Revance Therapeutics by 63.2% in the 3rd quarter. Assetmark Inc. now owns 3,257 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 1,261 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Revance Therapeutics by 626.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,823 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 5,884 shares during the period. Quest Partners LLC bought a new stake in shares of Revance Therapeutics during the fourth quarter valued at approximately $84,000. Canada Pension Plan Investment Board acquired a new position in shares of Revance Therapeutics during the third quarter worth approximately $88,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Revance Therapeutics by 351.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,155 shares of the biopharmaceutical company’s stock worth $89,000 after buying an additional 7,905 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Revance Therapeutics Trading Down 7.8 %

Revance Therapeutics stock opened at $3.29 on Friday. The stock has a 50-day moving average price of $5.03 and a 200 day moving average price of $6.55. Revance Therapeutics has a 52 week low of $3.23 and a 52 week high of $37.98. The stock has a market cap of $342.88 million, a PE ratio of -0.87 and a beta of 1.05.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.17. The firm had revenue of $69.80 million for the quarter, compared to analysts’ expectations of $64.02 million. On average, equities analysts predict that Revance Therapeutics will post -2.17 EPS for the current year.

About Revance Therapeutics

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 DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed 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.