Guggenheim Downgrades Revance Therapeutics (RVNC) to Hold

Revance Therapeutics (NASDAQ:RVNC) was downgraded by equities researchers at Guggenheim from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

RVNC has been the topic of a number of other research reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $28.00 price target on shares of Revance Therapeutics in a report on Friday, October 27th. Cantor Fitzgerald set a $50.00 price target on shares of Revance Therapeutics and gave the stock a “buy” rating in a report on Tuesday, October 24th. Barclays set a $40.00 price target on shares of Revance Therapeutics and gave the stock a “buy” rating in a report on Tuesday, December 19th. SunTrust Banks lifted their price objective on shares of Revance Therapeutics to $53.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Finally, Zacks Investment Research lowered shares of Revance Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Revance Therapeutics has an average rating of “Buy” and an average price target of $43.11.

Revance Therapeutics (NASDAQ RVNC) traded up $0.15 during trading on Tuesday, hitting $33.95. 397,141 shares of the company’s stock traded hands, compared to its average volume of 490,855. Revance Therapeutics has a 1 year low of $18.00 and a 1 year high of $37.45. The company has a market cap of $1,050.00, a PE ratio of -8.91 and a beta of 1.62.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.06). Revance Therapeutics had a negative return on equity of 67.85% and a negative net margin of 37,161.00%. The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. During the same period in the prior year, the business earned ($0.64) EPS. Revance Therapeutics’s quarterly revenue was up .0% compared to the same quarter last year. research analysts anticipate that Revance Therapeutics will post -3.73 earnings per share for the current fiscal year.

In related news, CFO Lauren P. Silvernail sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $26.83, for a total value of $268,300.00. Following the completion of the transaction, the chief financial officer now directly owns 59,006 shares in the company, valued at $1,583,130.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owns 133,188 shares of the company’s stock, valued at $3,321,708.72. The disclosure for this sale can be found here. Insiders sold 25,262 shares of company stock valued at $658,282 over the last quarter. 18.86% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Revance Therapeutics in the third quarter worth $144,000. Legal & General Group Plc lifted its stake in Revance Therapeutics by 8.1% in the second quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 438 shares during the last quarter. Voya Investment Management LLC bought a new stake in Revance Therapeutics in the second quarter worth $274,000. State of Wisconsin Investment Board bought a new stake in Revance Therapeutics in the second quarter worth $475,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Revance Therapeutics by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 18,304 shares of the biopharmaceutical company’s stock worth $483,000 after purchasing an additional 1,275 shares during the last quarter. 76.69% of the stock is owned by institutional investors and hedge funds.

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About Revance Therapeutics

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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