Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives $13.75 Average PT from Analysts

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) have received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $13.75.

Several research analysts recently commented on the stock. Mizuho lowered shares of Revance Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $16.00 to $9.00 in a report on Monday, January 29th. Needham & Company LLC decreased their target price on Revance Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Piper Sandler dropped their target price on Revance Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Revance Therapeutics in a report on Thursday, February 29th. Finally, Barclays cut their target price on Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, January 29th.

Revance Therapeutics Stock Up 3.3 %

RVNC stock opened at $3.40 on Friday. The company has a market cap of $354.33 million, a price-to-earnings ratio of -0.90 and a beta of 1.05. The business has a fifty day simple moving average of $4.99 and a 200-day simple moving average of $6.45. Revance Therapeutics has a 52 week low of $3.21 and a 52 week high of $37.98.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.17. The firm had revenue of $69.80 million for the quarter, compared to analyst estimates of $64.02 million. As a group, analysts expect that Revance Therapeutics will post -2.17 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Revance Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP bought a new position in Revance Therapeutics during the third quarter valued at about $18,352,000. Invesco Ltd. boosted its position in shares of Revance Therapeutics by 66.0% during the 3rd quarter. Invesco Ltd. now owns 2,902,440 shares of the biopharmaceutical company’s stock valued at $33,291,000 after purchasing an additional 1,153,615 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Revance Therapeutics by 251.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock worth $10,085,000 after purchasing an additional 820,587 shares during the last quarter. EULAV Asset Management boosted its holdings in Revance Therapeutics by 275.0% during the third quarter. EULAV Asset Management now owns 600,000 shares of the biopharmaceutical company’s stock worth $6,882,000 after buying an additional 440,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Revance Therapeutics in the third quarter worth approximately $4,749,000. 97.70% of the stock is currently owned by institutional investors.

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.