Revance Therapeutics Inc. (RVNC) Rating Increased to Buy at Zacks Investment Research
Revance Therapeutics Inc. (NASDAQ:RVNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $17.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s target price would indicate a potential upside of 10.39% from the stock’s previous close.
According to Zacks, “Revance Therapeutics, Inc. is a biopharmaceutical company which focuses on the development, manufacture and commercialization of novel botulinum toxin products for various aesthetic and therapeutic applications. The company’s technology platform includes TransMTS (R). Its lead product candidate consists of RT001, a topical gel formulation of botulinum toxin type A, which is in Phase III clinical trials for the treatment of crow’s feet lines; has completed initial Phase II clinical trials for the treatment of hyperhidrosis and for the prevention of migraine headache; and has completed Phase I clinical trials for the treatment of other indications, such as neuropathic pain and rhinitis. The company is also developing RT002, a novel injectable formulation of botulinum toxin type A, which is being tested in the four-cohort Phase I/II clinical dose escalation trials for the treatment of glabellar lines. Revance Therapeutics, Inc. is based in Newark, United States. “
Several other equities research analysts have also recently commented on the company. Guggenheim restated a “buy” rating and issued a $55.00 target price on shares of Revance Therapeutics in a research note on Tuesday, June 14th. SunTrust Banks Inc. cut their target price on Revance Therapeutics from $46.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, June 14th. Brean Capital restated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $35.00 target price (down previously from $54.00) on shares of Revance Therapeutics in a research note on Tuesday, June 14th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $39.88.
Shares of Revance Therapeutics (NASDAQ:RVNC) traded up 2.79% during trading on Wednesday, hitting $15.83. The stock had a trading volume of 61,689 shares. The firm has a 50 day moving average of $15.29 and a 200 day moving average of $16.15. Revance Therapeutics has a 1-year low of $12.54 and a 1-year high of $42.41. The company’s market capitalization is $450.90 million.
Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.88) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by $0.02. Revance Therapeutics had a negative net margin of 28,586.33% and a negative return on equity of 40.44%. The business had revenue of $0.80 million for the quarter, compared to the consensus estimate of $0.06 million. The company’s revenue was up .0% on a year-over-year basis. Analysts expect that Revance Therapeutics will post ($3.49) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of RVNC. Janney Montgomery Scott LLC acquired a new position in Revance Therapeutics during the second quarter worth $288,000. BlackRock Advisors LLC raised its position in Revance Therapeutics by 15.8% in the second quarter. BlackRock Advisors LLC now owns 9,802 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 1,338 shares during the last quarter. Rothschild Asset Management Inc. acquired a new position in Revance Therapeutics during the second quarter worth $143,000. American International Group Inc. raised its position in Revance Therapeutics by 10.9% in the second quarter. American International Group Inc. now owns 11,769 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 1,161 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Revance Therapeutics by 14.6% in the second quarter. Rhumbline Advisers now owns 19,030 shares of the biopharmaceutical company’s stock worth $259,000 after buying an additional 2,420 shares during the last quarter.
Revance Therapeutics Company Profile
Revance Therapeutics, Inc is a biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its TransMTS technology enables delivery of botulinum toxin type A through investigational drug product candidates, including DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical, and DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable.
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