Revance Therapeutics (NASDAQ:RVNC) Given New $26.00 Price Target at Morgan Stanley

Revance Therapeutics (NASDAQ:RVNC – Get Rating) had its target price boosted by Morgan Stanley from $25.00 to $26.00 in a research report released on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the company. StockNews.com cut Revance Therapeutics from a hold rating to a sell rating in a research report on Thursday, October 13th. Needham & Company LLC boosted their price target on Revance Therapeutics from $35.00 to $38.00 and gave the stock a buy rating in a research report on Tuesday, January 10th. Guggenheim boosted their price target on Revance Therapeutics to $36.00 in a research report on Tuesday, November 15th. Finally, Barclays boosted their price target on Revance Therapeutics from $35.00 to $37.00 and gave the stock an overweight rating in a research report on Wednesday, November 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $38.30.

Revance Therapeutics Price Performance

RVNC opened at $32.36 on Tuesday. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -8.26 and a beta of 0.57. Revance Therapeutics has a 1 year low of $11.27 and a 1 year high of $34.22. The company has a current ratio of 5.56, a quick ratio of 5.33 and a debt-to-equity ratio of 2.60. The stock has a fifty day moving average price of $22.89 and a 200 day moving average price of $22.36.

Revance Therapeutics (NASDAQ:RVNC – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.32). The firm had revenue of $29.02 million for the quarter, compared to analyst estimates of $28.76 million. Revance Therapeutics had a negative net margin of 251.92% and a negative return on equity of 461.54%. Analysts forecast that Revance Therapeutics will post -4.32 EPS for the current fiscal year.

Insider Transactions at Revance Therapeutics

In other news, CFO Tobin Schilke sold 1,000 shares of Revance Therapeutics stock in a transaction dated Friday, January 20th. The stock was sold at an average price of $31.00, for a total value of $31,000.00. Following the transaction, the chief financial officer now directly owns 57,877 shares in the company, valued at $1,794,187. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Revance Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moody Aldrich Partners LLC increased its stake in Revance Therapeutics by 42.7% during the fourth quarter. Moody Aldrich Partners LLC now owns 114,173 shares of the biopharmaceutical company’s stock valued at $2,108,000 after acquiring an additional 34,189 shares during the period. Waypoint Capital Advisors LLC bought a new position in Revance Therapeutics during the fourth quarter valued at about $997,000. Allspring Global Investments Holdings LLC increased its stake in Revance Therapeutics by 86.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,094,524 shares of the biopharmaceutical company’s stock valued at $20,205,000 after acquiring an additional 508,249 shares during the period. DNB Asset Management AS bought a new position in Revance Therapeutics during the fourth quarter valued at about $218,000. Finally, California State Teachers Retirement System increased its stake in Revance Therapeutics by 10.9% during the third quarter. California State Teachers Retirement System now owns 97,856 shares of the biopharmaceutical company’s stock valued at $2,642,000 after acquiring an additional 9,642 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Revance Therapeutics Company Profile

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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.