The Revance Therapeutics Inc. (RVNC) Upgraded at Zacks Investment Research

The Revance Therapeutics Inc. (RVNC) Upgraded at Zacks Investment Research

Revance Therapeutics Inc. (NASDAQ:RVNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $17.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 7.19% from the company’s previous close.

According to Zacks, “Revance Therapeutics, Inc. is a biopharmaceutical company which focuses on the development, manufacture and commercialization of novel botulinum toxin products for various aesthetic and therapeutic applications. The company’s technology platform includes TransMTS (R). Its lead product candidate consists of RT001, a topical gel formulation of botulinum toxin type A, which is in Phase III clinical trials for the treatment of crow’s feet lines; has completed initial Phase II clinical trials for the treatment of hyperhidrosis and for the prevention of migraine headache; and has completed Phase I clinical trials for the treatment of other indications, such as neuropathic pain and rhinitis. The company is also developing RT002, a novel injectable formulation of botulinum toxin type A, which is being tested in the four-cohort Phase I/II clinical dose escalation trials for the treatment of glabellar lines. Revance Therapeutics, Inc. is based in Newark, United States. “

A number of other research analysts have also recently issued reports on the stock. Guggenheim reaffirmed a “buy” rating and issued a $55.00 price target on shares of Revance Therapeutics in a research note on Tuesday, June 14th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $35.00 price target (down previously from $54.00) on shares of Revance Therapeutics in a research note on Tuesday, June 14th. Brean Capital lowered shares of Revance Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Finally, SunTrust Banks Inc. cut their price objective on shares of Revance Therapeutics from $46.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Revance Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $39.88.

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Revance Therapeutics (NASDAQ:RVNC) traded up 1.86% on Wednesday, hitting $15.86. 143,088 shares of the stock traded hands. The stock’s market cap is $451.76 million. The stock has a 50-day moving average price of $15.34 and a 200 day moving average price of $16.15. Revance Therapeutics has a 12-month low of $12.54 and a 12-month high of $42.41.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by $0.02. The business had revenue of $0.80 million for the quarter, compared to the consensus estimate of $0.06 million. Revance Therapeutics had a negative return on equity of 40.44% and a negative net margin of 28,586.33%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts expect that Revance Therapeutics will post ($3.53) EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC increased its position in shares of Revance Therapeutics by 2.9% in the second quarter. ProShare Advisors LLC now owns 23,688 shares of the biopharmaceutical company’s stock worth $322,000 after buying an additional 670 shares during the last quarter. American International Group Inc. increased its position in shares of Revance Therapeutics by 10.9% in the second quarter. American International Group Inc. now owns 11,769 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 1,161 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Revance Therapeutics by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 66,263 shares of the biopharmaceutical company’s stock worth $902,000 after buying an additional 1,320 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Revance Therapeutics by 15.8% in the second quarter. BlackRock Advisors LLC now owns 9,802 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 1,338 shares during the last quarter. Finally, Teachers Advisors Inc. increased its position in shares of Revance Therapeutics by 7.8% in the second quarter. Teachers Advisors Inc. now owns 32,072 shares of the biopharmaceutical company’s stock worth $436,000 after buying an additional 2,322 shares during the last quarter.

Revance Therapeutics Company Profile

Revance Therapeutics, Inc is a biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its TransMTS technology enables delivery of botulinum toxin type A through investigational drug product candidates, including DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical, and DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable.

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