Zacks Investment Research Downgrades Revance Therapeutics (RVNC) to Sell

Zacks Investment Research cut shares of Revance Therapeutics (NASDAQ:RVNC) from a hold rating to a sell rating in a report issued on Wednesday morning.

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 brokerages also recently weighed in on RVNC. Guggenheim reiterated a neutral rating and issued a $42.00 price target on shares of Revance Therapeutics in a report on Thursday, January 4th. Mizuho reiterated a buy rating and issued a $54.00 price target on shares of Revance Therapeutics in a report on Friday, January 5th. Cantor Fitzgerald set a $50.00 price target on Revance Therapeutics and gave the company a buy rating in a report on Thursday, January 4th. Barclays set a $40.00 price target on Revance Therapeutics and gave the company a buy rating in a report on Tuesday, December 19th. Finally, Cowen set a $55.00 price target on Revance Therapeutics and gave the company a buy rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $44.30.

Shares of Revance Therapeutics (RVNC) opened at $31.20 on Wednesday. Revance Therapeutics has a twelve month low of $18.00 and a twelve month high of $37.45. The firm has a market capitalization of $1,135.82, a P/E ratio of -8.21 and a beta of 1.36.

In related news, CEO L Daniel Browne sold 7,600 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $24.94, for a total transaction of $189,544.00. Following the completion of the transaction, the chief executive officer now directly owns 133,188 shares in the company, valued at approximately $3,321,708.72. The sale was disclosed in a document filed with the SEC, which is available through this link. 18.86% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Revance Therapeutics by 3.2% during the 4th quarter. Franklin Resources Inc. now owns 3,394,202 shares of the biopharmaceutical company’s stock worth $121,343,000 after buying an additional 105,424 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Revance Therapeutics by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,144,669 shares of the biopharmaceutical company’s stock worth $76,672,000 after buying an additional 135,356 shares during the last quarter. Vanguard Group Inc. grew its stake in Revance Therapeutics by 7.3% during the 2nd quarter. Vanguard Group Inc. now owns 931,623 shares of the biopharmaceutical company’s stock worth $24,595,000 after buying an additional 63,505 shares during the last quarter. Alliancebernstein L.P. grew its stake in Revance Therapeutics by 4,063.7% during the 4th quarter. Alliancebernstein L.P. now owns 907,695 shares of the biopharmaceutical company’s stock worth $32,450,000 after buying an additional 885,895 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Revance Therapeutics by 127.1% during the 4th quarter. Jennison Associates LLC now owns 857,536 shares of the biopharmaceutical company’s stock worth $30,657,000 after buying an additional 480,008 shares during the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.

WARNING: This piece was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.thelincolnianonline.com/2018/02/18/zacks-investment-research-downgrades-revance-therapeutics-rvnc-to-sell.html.

Revance Therapeutics Company Profile

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

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Analyst Recommendations for Revance Therapeutics (NASDAQ:RVNC)

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Zacks Investment Research Downgrades Revance Therapeutics (RVNC) to Sell

Zacks Investment Research cut shares of Revance Therapeutics (NASDAQ:RVNC) from a hold rating to a sell rating in a report issued on Wednesday.

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 research analysts have also issued reports on the company. Cantor Fitzgerald set a $50.00 price target on Revance Therapeutics and gave the stock a buy rating in a research report on Wednesday, November 29th. Mizuho reiterated a buy rating and set a $54.00 price target on shares of Revance Therapeutics in a research report on Friday, January 5th. Cowen set a $55.00 price target on Revance Therapeutics and gave the stock a buy rating in a research report on Wednesday, January 17th. Barclays set a $40.00 price target on Revance Therapeutics and gave the stock a buy rating in a research report on Tuesday, December 19th. Finally, Piper Jaffray Companies boosted their price target on Revance Therapeutics from $28.00 to $51.00 and gave the stock an overweight rating in a research report on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $44.30.

Revance Therapeutics (NASDAQ:RVNC) opened at $31.20 on Wednesday. Revance Therapeutics has a 12-month low of $18.00 and a 12-month high of $37.45. The stock has a market capitalization of $1,135.82, a price-to-earnings ratio of -8.21 and a beta of 1.36.

In other news, CEO L Daniel Browne sold 7,600 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $24.94, for a total value of $189,544.00. Following the completion of the sale, the chief executive officer now owns 133,188 shares in the company, valued at $3,321,708.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 18.86% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Revance Therapeutics in the third quarter valued at $144,000. Cowen Inc. acquired a new stake in shares of Revance Therapeutics in the fourth quarter valued at $225,000. Teacher Retirement System of Texas acquired a new stake in shares of Revance Therapeutics in the fourth quarter valued at $255,000. Voya Investment Management LLC acquired a new stake in shares of Revance Therapeutics in the second quarter valued at $274,000. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of Revance Therapeutics in the fourth quarter valued at $325,000. Institutional investors and hedge funds own 77.84% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Downgrades Revance Therapeutics (RVNC) to Sell” was originally posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.thelincolnianonline.com/2018/02/18/zacks-investment-research-downgrades-revance-therapeutics-rvnc-to-sell.html.

Revance Therapeutics Company Profile

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

Get a free copy of the Zacks research report on Revance Therapeutics (RVNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Revance Therapeutics (NASDAQ:RVNC)

Receive News & Ratings for Revance Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revance Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

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