Revance Therapeutics (RVNC) Downgraded by BidaskClub
BidaskClub lowered shares of Revance Therapeutics (NASDAQ:RVNC) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.
A number of other analysts have also recently issued reports on the company. Cantor Fitzgerald set a $50.00 target price on Revance Therapeutics and gave the stock a buy rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded Revance Therapeutics from a sell rating to a hold rating in a report on Thursday, August 9th. Finally, ValuEngine upgraded Revance Therapeutics from a buy rating to a strong-buy rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Revance Therapeutics presently has an average rating of Buy and an average target price of $47.10.
Shares of NASDAQ:RVNC opened at $23.55 on Friday. Revance Therapeutics has a 1 year low of $22.25 and a 1 year high of $37.45. The stock has a market cap of $977.01 million, a PE ratio of -5.87 and a beta of 1.28.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVNC. BlackRock Inc. boosted its holdings in Revance Therapeutics by 21.6% in the 2nd quarter. BlackRock Inc. now owns 2,931,980 shares of the biopharmaceutical company’s stock worth $80,482,000 after acquiring an additional 521,536 shares during the period. Millennium Management LLC boosted its holdings in Revance Therapeutics by 46.8% in the 1st quarter. Millennium Management LLC now owns 1,494,441 shares of the biopharmaceutical company’s stock worth $46,029,000 after acquiring an additional 476,209 shares during the period. OppenheimerFunds Inc. purchased a new position in Revance Therapeutics in the 1st quarter worth approximately $7,025,000. Fosun International Ltd boosted its holdings in Revance Therapeutics by 48.0% in the 2nd quarter. Fosun International Ltd now owns 472,532 shares of the biopharmaceutical company’s stock worth $12,971,000 after acquiring an additional 153,219 shares during the period. Finally, Sio Capital Management LLC purchased a new position in Revance Therapeutics in the 2nd quarter worth approximately $2,780,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.
About Revance Therapeutics
Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.
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