The Goldman Sachs Group Initiates Coverage on Revance Therapeutics (NASDAQ:RVNC)

The Goldman Sachs Group initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNCGet Rating) in a research note published on Thursday morning, The Fly reports. The brokerage issued a buy rating and a $33.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on the stock. StockNews.com raised shares of Revance Therapeutics from a sell rating to a hold rating in a research report on Monday. Mizuho upped their price target on shares of Revance Therapeutics from $26.00 to $30.00 and gave the stock a buy rating in a research report on Friday, September 9th. Cowen upped their price target on shares of Revance Therapeutics from $55.00 to $65.00 in a research report on Thursday, September 8th. Guggenheim upped their price target on shares of Revance Therapeutics to $35.00 in a research report on Monday, August 15th. Finally, Barclays increased their price objective on shares of Revance Therapeutics from $22.00 to $35.00 and gave the stock an overweight rating in a research report on Friday, September 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $39.00.

Revance Therapeutics Stock Performance

NASDAQ:RVNC opened at $25.56 on Thursday. The firm has a 50 day simple moving average of $20.70 and a 200-day simple moving average of $17.51. The company has a debt-to-equity ratio of 14.80, a current ratio of 3.38 and a quick ratio of 3.20. The firm has a market cap of $1.87 billion, a PE ratio of -6.64 and a beta of 0.92. Revance Therapeutics has a 1-year low of $11.27 and a 1-year high of $30.00.

Revance Therapeutics (NASDAQ:RVNCGet Rating) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.03. Revance Therapeutics had a negative net margin of 265.04% and a negative return on equity of 497.77%. The firm had revenue of $28.37 million during the quarter, compared to analyst estimates of $27.64 million. On average, equities analysts expect that Revance Therapeutics will post -3.69 EPS for the current year.

Insider Activity

In other news, SVP Dwight Moxie sold 11,000 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $27.07, for a total value of $297,770.00. Following the completion of the transaction, the senior vice president now directly owns 31,694 shares in the company, valued at $857,956.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. raised its holdings in shares of Revance Therapeutics by 60.6% during the first quarter. Advisor Group Holdings Inc. now owns 2,838 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 1,071 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of Revance Therapeutics during the first quarter worth $122,000. Point72 Hong Kong Ltd acquired a new stake in shares of Revance Therapeutics during the second quarter worth $92,000. Carnegie Capital Asset Management LLC acquired a new stake in shares of Revance Therapeutics during the second quarter worth $290,000. Finally, Sciencast Management LP acquired a new stake in shares of Revance Therapeutics during the second quarter worth $165,000. 77.08% of the stock is currently owned by 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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