Equities research analysts at Barclays initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $28.00 price target on the biopharmaceutical company’s stock. Barclays‘s price target would indicate a potential upside of 161.68% from the stock’s current price.
Several other equities analysts have also commented on the company. SunTrust Banks lowered their price objective on Revance Therapeutics to $29.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Mizuho reissued a “buy” rating on shares of Revance Therapeutics in a research report on Wednesday, February 27th. HC Wainwright initiated coverage on Revance Therapeutics in a research report on Thursday, February 14th. They set a “buy” rating and a $25.00 price objective for the company. ValuEngine raised Revance Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Zacks Investment Research lowered Revance Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $33.09.
NASDAQ:RVNC opened at $10.70 on Tuesday. The firm has a market capitalization of $475.28 million, a P/E ratio of -2.72 and a beta of 0.90. Revance Therapeutics has a twelve month low of $10.37 and a twelve month high of $31.80. The company has a current ratio of 8.13, a quick ratio of 8.13 and a debt-to-equity ratio of 0.13.
Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $1.85 million. Revance Therapeutics had a negative net margin of 3,745.97% and a negative return on equity of 75.31%. As a group, analysts predict that Revance Therapeutics will post -3.63 earnings per share for the current fiscal year.
In other Revance Therapeutics news, CEO L Daniel Browne sold 11,613 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $15.51, for a total transaction of $180,117.63. Following the completion of the transaction, the chief executive officer now owns 165,687 shares of the company’s stock, valued at $2,569,805.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RVNC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Revance Therapeutics by 97.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,352 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 1,159 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in shares of Revance Therapeutics in the 1st quarter worth about $42,000. Edge Wealth Management LLC raised its position in shares of Revance Therapeutics by 550.0% in the 1st quarter. Edge Wealth Management LLC now owns 3,250 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 2,750 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Revance Therapeutics by 103.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 5,183 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 2,630 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Revance Therapeutics by 21.7% in the 4th quarter. Legal & General Group Plc now owns 6,445 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 1,150 shares during the last quarter. 94.65% of the stock is 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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