Revance Therapeutics’ (RVNC) “Overweight” Rating Reaffirmed at Piper Sandler

Revance Therapeutics (NASDAQ:RVNC)‘s stock had its “overweight” rating restated by stock analysts at Piper Sandler in a report released on Friday, Benzinga reports. They presently have a $11.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $20.00. Piper Sandler’s price objective points to a potential upside of 168.29% from the stock’s current price.

RVNC has been the subject of a number of other research reports. Barclays dropped their price target on Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, January 29th. The Goldman Sachs Group raised their target price on shares of Revance Therapeutics from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Mizuho reduced their price target on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday. Needham & Company LLC lowered their price objective on shares of Revance Therapeutics from $18.00 to $12.00 and set a “buy” rating for the company in a report on Friday. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Revance Therapeutics in a research report on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.75.

Revance Therapeutics Trading Down 4.4 %

RVNC stock opened at $4.10 on Friday. The stock has a market capitalization of $427.29 million, a price-to-earnings ratio of -1.08 and a beta of 1.16. The firm’s 50-day moving average price is $4.67 and its two-hundred day moving average price is $6.18. Revance Therapeutics has a 12-month low of $3.21 and a 12-month high of $36.70.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.17. The business had revenue of $69.80 million for the quarter, compared to analysts’ expectations of $64.02 million. Equities analysts predict that Revance Therapeutics will post -2.17 EPS for the current year.

Insiders Place Their Bets

In other news, insider Dwight Moxie sold 8,125 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $40,950.00. Following the transaction, the insider now directly owns 137,815 shares of the company’s stock, valued at $694,587.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Tobin Schilke sold 9,361 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $47,179.44. Following the transaction, the chief financial officer now owns 192,666 shares of the company’s stock, valued at $971,036.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dwight Moxie sold 8,125 shares of Revance Therapeutics stock in a transaction on Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $40,950.00. Following the transaction, the insider now owns 137,815 shares in the company, valued at $694,587.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,089 shares of company stock valued at $143,642. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Revance Therapeutics

A number of hedge funds have recently modified their holdings of the company. Legato Capital Management LLC raised its position in shares of Revance Therapeutics by 48.8% during the fourth quarter. Legato Capital Management LLC now owns 57,652 shares of the biopharmaceutical company’s stock valued at $507,000 after buying an additional 18,903 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Revance Therapeutics by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,791,459 shares of the biopharmaceutical company’s stock worth $54,958,000 after purchasing an additional 138,683 shares during the period. Principal Financial Group Inc. increased its position in Revance Therapeutics by 55.2% during the third quarter. Principal Financial Group Inc. now owns 963,029 shares of the biopharmaceutical company’s stock valued at $11,046,000 after acquiring an additional 342,540 shares during the last quarter. DNB Asset Management AS lifted its stake in Revance Therapeutics by 44.7% in the fourth quarter. DNB Asset Management AS now owns 34,652 shares of the biopharmaceutical company’s stock worth $305,000 after purchasing an additional 10,706 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Revance Therapeutics during the 3rd quarter valued at $4,749,000. 97.70% of the stock is currently owned by institutional investors.

Revance Therapeutics Company Profile

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally. The company's lead drug candidate is DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed phase II clinical trials to treat upper facial lines, moderate or severe dynamic forehead lines, and moderate or severe lateral canthal lines; and has completed Phase II clinical trials for the treatment of adult upper limb spasticity and plantar fasciitis.