Revance Therapeutics (RVNC) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of Revance Therapeutics (NASDAQ:RVNC) from a buy rating to a hold rating in a research note released on Thursday morning.

Other equities analysts have also recently issued reports about the company. Piper Jaffray Companies reaffirmed a buy rating on shares of Revance Therapeutics in a report on Monday, September 17th. BidaskClub raised Revance Therapeutics from a sell rating to a hold rating in a report on Tuesday, October 16th. Cantor Fitzgerald reaffirmed a buy rating and set a $50.00 price objective on shares of Revance Therapeutics in a report on Thursday, November 1st. Zacks Investment Research raised Revance Therapeutics from a hold rating to a buy rating and set a $28.00 price objective for the company in a report on Wednesday, November 7th. Finally, JMP Securities cut Revance Therapeutics from an outperform rating to a market perform rating in a report on Monday, September 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $46.50.

RVNC opened at $19.78 on Thursday. The company has a market capitalization of $739.01 million, a PE ratio of -4.93 and a beta of 1.13. Revance Therapeutics has a 12 month low of $17.16 and a 12 month high of $35.05.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.04. The business had revenue of $2.36 million during the quarter, compared to analysts’ expectations of $0.49 million. Revance Therapeutics had a negative return on equity of 61.45% and a negative net margin of 4,205.52%. Sell-side analysts anticipate that Revance Therapeutics will post -3.81 earnings per share for the current fiscal year.

In other Revance Therapeutics news, insider Cyril Allouche sold 2,188 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $23.72, for a total transaction of $51,899.36. Following the completion of the transaction, the insider now owns 6,938 shares of the company’s stock, valued at $164,569.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 3,054 shares of company stock valued at $69,348. 5.05% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in RVNC. Cubist Systematic Strategies LLC increased its position in Revance Therapeutics by 43.2% during the second quarter. Cubist Systematic Strategies LLC now owns 8,795 shares of the biopharmaceutical company’s stock worth $241,000 after buying an additional 2,654 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Revance Therapeutics by 25.8% during the second quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock worth $299,000 after buying an additional 2,232 shares in the last quarter. Voya Investment Management LLC increased its position in Revance Therapeutics by 19.6% during the second quarter. Voya Investment Management LLC now owns 12,433 shares of the biopharmaceutical company’s stock worth $341,000 after buying an additional 2,041 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Revance Therapeutics during the second quarter worth $406,000. Finally, MetLife Investment Advisors LLC increased its position in Revance Therapeutics by 41.5% during the second quarter. MetLife Investment Advisors LLC now owns 15,532 shares of the biopharmaceutical company’s stock worth $426,000 after buying an additional 4,557 shares in the last quarter. 92.86% of the stock is owned by institutional investors.

Revance Therapeutics Company Profile

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.

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