Revance Therapeutics (NASDAQ:RVNC) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Revance Therapeutics (NASDAQ:RVNC) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. The firm currently has $14.00 price target on the biopharmaceutical company’s stock.

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. “

A number of other equities research analysts have also recently commented on the stock. BidaskClub cut shares of Revance Therapeutics from a hold rating to a sell rating in a report on Friday, October 4th. Barclays began coverage on shares of Revance Therapeutics in a report on Tuesday, June 11th. They issued an overweight rating and a $28.00 price target for the company. ValuEngine upgraded shares of Revance Therapeutics from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, William Blair restated an outperform rating on shares of Revance Therapeutics in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $32.43.

Shares of RVNC traded up $0.52 during trading hours on Wednesday, hitting $12.18. 201,825 shares of the stock were exchanged, compared to its average volume of 341,540. Revance Therapeutics has a fifty-two week low of $9.88 and a fifty-two week high of $26.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.59 and a quick ratio of 5.59. The business has a 50-day moving average of $12.22 and a 200-day moving average of $12.52. The firm has a market capitalization of $533.20 million, a P/E ratio of -3.09 and a beta of 1.14.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.86). Revance Therapeutics had a negative net margin of 3,745.97% and a negative return on equity of 79.28%. As a group, analysts forecast that Revance Therapeutics will post -3.73 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of RVNC. Rice Hall James & Associates LLC grew its holdings in Revance Therapeutics by 654.1% in the second quarter. Rice Hall James & Associates LLC now owns 882,769 shares of the biopharmaceutical company’s stock worth $11,450,000 after purchasing an additional 765,701 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Revance Therapeutics by 47.5% in the second quarter. Renaissance Technologies LLC now owns 1,330,973 shares of the biopharmaceutical company’s stock valued at $17,263,000 after buying an additional 428,900 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Revance Therapeutics in the second quarter valued at $3,098,000. Nuveen Asset Management LLC bought a new position in shares of Revance Therapeutics in the second quarter valued at $2,638,000. Finally, Sio Capital Management LLC lifted its stake in shares of Revance Therapeutics by 58.6% in the second quarter. Sio Capital Management LLC now owns 403,664 shares of the biopharmaceutical company’s stock valued at $5,236,000 after buying an additional 149,083 shares in the last quarter. Institutional investors and hedge funds own 98.68% of the company’s stock.

About Revance Therapeutics

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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