Piper Sandler Reiterates "Overweight" Rating for Revance Therapeutics (NASDAQ:RVNC)

Revance Therapeutics (NASDAQ:RVNC - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Piper Sandler in a report released on Friday, Benzinga reports. They presently have a $11.00 target price on the biopharmaceutical company's stock, down from their previous target price of $20.00. Piper Sandler's price target indicates a potential upside of 231.33% from the stock's current price.

A number of other equities analysts have also commented on RVNC. Barclays reduced their target price on shares of Revance Therapeutics from $35.00 to $10.00 and set an "overweight" rating on the stock in a research report on Monday, January 29th. Needham & Company LLC dropped their price objective on shares of Revance Therapeutics from $18.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday. Mizuho dropped their price objective on shares of Revance Therapeutics from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday. The Goldman Sachs Group increased their price objective on shares of Revance Therapeutics from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Friday, March 1st. Finally, HC Wainwright reiterated a "buy" rating and set a $12.00 price objective on shares of Revance Therapeutics in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $11.75.

Revance Therapeutics Stock Down 22.6 %

Revance Therapeutics stock traded down $0.97 during midday trading on Friday, reaching $3.32. The stock had a trading volume of 8,061,968 shares, compared to its average volume of 1,858,580. The firm has a market cap of $346.00 million, a price-to-earnings ratio of -0.88 and a beta of 1.16. The company has a fifty day moving average of $4.67 and a 200 day moving average of $6.18. Revance Therapeutics has a 52-week low of $3.00 and a 52-week high of $36.70.

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping analysts' consensus estimates of ($0.79) by $0.17. The company had revenue of $69.80 million for the quarter, compared to analysts' expectations of $64.02 million. Equities research analysts predict that Revance Therapeutics will post -2.17 EPS for the current year.

Insider Buying and Selling

In related news, insider Dwight Moxie sold 8,125 shares of Revance Therapeutics stock in a transaction dated 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 owns 137,815 shares in the company, valued at approximately $694,587.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Dwight Moxie sold 8,125 shares of the business'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 transaction, the insider now directly owns 137,815 shares in the company, valued at approximately $694,587.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Dustin S. Sjuts sold 9,211 shares of the business'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 value of $46,423.44. Following the transaction, the president now owns 167,550 shares in the company, valued at $844,452. The disclosure for this sale can be found here. Insiders sold a total of 29,089 shares of company stock valued at $143,642 over the last 90 days. Insiders own 3.50% of the company's stock.

Institutional Trading of Revance Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RVNC. Rubric Capital Management LP purchased a new stake in Revance Therapeutics in the third quarter valued at approximately $18,352,000. Invesco Ltd. boosted its stake in 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 during the period. CIBC Asset Management Inc raised its position in shares of Revance Therapeutics by 251.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company's stock worth $10,085,000 after buying an additional 820,587 shares in the last quarter. EULAV Asset Management raised its holdings in shares of Revance Therapeutics by 275.0% in the 3rd quarter. EULAV Asset Management now owns 600,000 shares of the biopharmaceutical company's stock worth $6,882,000 after purchasing an additional 440,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Revance Therapeutics during the 3rd quarter worth $4,749,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

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.