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 report published on Thursday.

A number of other research firms also recently issued reports on RVNC. BidaskClub raised Revance Therapeutics from a sell rating to a hold rating in a research report on Wednesday, September 26th. JMP Securities cut Revance Therapeutics from an outperform rating to a market perform rating in a research note on Monday, September 17th. Cantor Fitzgerald restated a buy rating and set a $50.00 price objective on shares of Revance Therapeutics in a research note on Friday, September 14th. Piper Jaffray Companies restated a buy rating on shares of Revance Therapeutics in a research note on Monday, September 17th. Finally, Zacks Investment Research upgraded Revance Therapeutics from a hold rating to a buy rating and set a $28.00 price objective on the stock in a research note on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $46.50.

RVNC stock opened at $19.78 on Thursday. Revance Therapeutics has a 12-month low of $17.16 and a 12-month high of $35.05. The stock has a market cap of $739.01 million, a price-to-earnings ratio of -4.93 and a beta of 1.13.

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

In other Revance Therapeutics news, insider Cyril Allouche sold 2,188 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $23.72, for a total transaction of $51,899.36. Following the transaction, the insider now owns 6,938 shares in the company, valued at $164,569.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 3,054 shares of company stock worth $69,348. 5.05% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC lifted its stake in shares of Revance Therapeutics by 43.2% in the second quarter. Cubist Systematic Strategies LLC now owns 8,795 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 2,654 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in Revance Therapeutics by 25.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 2,232 shares during the last quarter. Voya Investment Management LLC increased its holdings in Revance Therapeutics by 19.6% in the second quarter. Voya Investment Management LLC now owns 12,433 shares of the biopharmaceutical company’s stock valued at $341,000 after buying an additional 2,041 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Revance Therapeutics in the second quarter valued at about $406,000. Finally, MetLife Investment Advisors LLC increased its holdings in Revance Therapeutics by 41.5% in the second quarter. MetLife Investment Advisors LLC now owns 15,532 shares of the biopharmaceutical company’s stock valued at $426,000 after buying an additional 4,557 shares during the last quarter. Institutional investors and hedge funds own 92.86% of the company’s stock.

About Revance Therapeutics

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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