Revance Therapeutics (NASDAQ:RVNC) Given New $33.00 Price Target at HC Wainwright

Revance Therapeutics (NASDAQ:RVNC) had its price objective hoisted by HC Wainwright from $27.00 to $33.00 in a research report released on Thursday morning, The Fly reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

RVNC has been the topic of several other reports. Zacks Investment Research downgraded shares of Revance Therapeutics from a buy rating to a hold rating in a report on Wednesday, August 12th. Barclays raised their price target on shares of Revance Therapeutics from $32.00 to $35.00 and gave the stock an overweight rating in a research note on Monday, September 28th. Mizuho began coverage on shares of Revance Therapeutics in a research note on Tuesday, August 11th. They issued a buy rating and a $32.00 price target on the stock. Finally, BidaskClub downgraded shares of Revance Therapeutics from a hold rating to a sell rating in a research note on Thursday, October 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $30.44.

RVNC opened at $25.62 on Thursday. The company has a quick ratio of 10.46, a current ratio of 10.48 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -6.07 and a beta of 1.73. Revance Therapeutics has a 52-week low of $11.78 and a 52-week high of $34.62. The firm’s fifty day simple moving average is $27.77 and its two-hundred day simple moving average is $23.09.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.96) by ($0.16). The company had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $1.05 million. Revance Therapeutics had a negative net margin of 42,532.11% and a negative return on equity of 88.96%. On average, research analysts forecast that Revance Therapeutics will post -4.18 EPS for the current year.

In related news, insider Aubrey Rankin sold 33,119 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $26.18, for a total transaction of $867,055.42. Following the completion of the sale, the insider now directly owns 67,871 shares in the company, valued at $1,776,862.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.80% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new stake in Revance Therapeutics during the second quarter worth about $40,000. Captrust Financial Advisors acquired a new stake in Revance Therapeutics during the second quarter worth about $44,000. Advisor Group Holdings Inc. acquired a new stake in shares of Revance Therapeutics during the first quarter valued at about $37,000. Meeder Asset Management Inc. increased its position in shares of Revance Therapeutics by 66.3% during the first 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 last quarter. Finally, First Mercantile Trust Co. acquired a new stake in shares of Revance Therapeutics during the second quarter valued at about $99,000. Hedge funds and other institutional investors own 76.75% 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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