Revance Therapeutics (NASDAQ:RVNC) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report issued on Saturday, Zacks.com reports.
According to Zacks, "Revance is a Silicon Valley-based biotechnology company. The company is developing a portfolio of products for aesthetic medicine and underserved therapeutic specialties, including dermatology and neurology. Revance's science is based upon a proprietary TransMTS® peptide technology, which when combined with active drug molecules, may help address current unmet needs. Revance's initial focus is on developing daxibotulinumtoxinA, the company's highly purified botulinum toxin, for a broad spectrum of aesthetic and therapeutic indications, including facial wrinkles and muscle movement disorders. The company's lead drug candidate, DaxibotulinumtoxinA for Injection (RT002), is currently in development for the treatment of glabellar lines and cervical dystonia and has the potential to be the first long-acting neurotoxin. The company holds worldwide rights for all indications of RT002 injectable and RT001 topical and the pharmaceutical uses of the TransMTS technology platform. "
RVNC has been the topic of several other research reports. Stifel Nicolaus decreased their price target on shares of Revance Therapeutics from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. Mizuho reiterated a "buy" rating and issued a $35.00 target price on shares of Revance Therapeutics in a research report on Wednesday, May 20th. BidaskClub lowered shares of Revance Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, July 14th. HC Wainwright reissued a "buy" rating and issued a $27.00 price objective on shares of Revance Therapeutics in a research report on Friday, July 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $36.00 price objective on shares of Revance Therapeutics in a report on Wednesday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Revance Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $29.00.
NASDAQ RVNC opened at $23.48 on Friday. Revance Therapeutics has a 12 month low of $9.88 and a 12 month high of $27.97. The company has a current ratio of 12.45, a quick ratio of 12.45 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.38 billion, a PE ratio of -5.93 and a beta of 1.65. The stock's 50 day moving average is $24.17 and its 200 day moving average is $21.09.
Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.24). The firm had revenue of $0.06 million for the quarter, compared to analysts' expectations of $0.15 million. On average, analysts forecast that Revance Therapeutics will post -4.28 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVNC. Legal & General Group Plc increased its position in shares of Revance Therapeutics by 4.0% in the first quarter. Legal & General Group Plc now owns 19,064 shares of the biopharmaceutical company's stock valued at $283,000 after buying an additional 738 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Revance Therapeutics by 66.3% in the 1st quarter. Meeder Asset Management Inc. now owns 2,699 shares of the biopharmaceutical company's stock valued at $41,000 after acquiring an additional 1,076 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Revance Therapeutics by 39.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,807 shares of the biopharmaceutical company's stock worth $56,000 after acquiring an additional 1,080 shares in the last quarter. Swiss National Bank increased its holdings in Revance Therapeutics by 1.2% in the 1st quarter. Swiss National Bank now owns 90,050 shares of the biopharmaceutical company's stock worth $1,333,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Nottingham Advisors Inc. raised its position in Revance Therapeutics by 13.1% during the first quarter. Nottingham Advisors Inc. now owns 11,312 shares of the biopharmaceutical company's stock worth $167,000 after acquiring an additional 1,308 shares during the period. 86.57% of the stock is owned by institutional investors.
Revance Therapeutics Company Profile
Revance Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development, manufacture, and commercialization of novel neuromodulators for various aesthetic and therapeutic indications. The company's lead drug candidate is DaxibotulinumtoxinA for injection (DAXI), which is in phase III clinical trials to treat glabellar (frown) lines and cervical dystonia; and in phase II clinical trials for the treatment of plantar fasciitis, adult upper limb spasticity, and chronic migraine.
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