Revance Therapeutics (RVNC) Upgraded to “Buy” by Guggenheim

Guggenheim upgraded shares of Revance Therapeutics (NASDAQ:RVNC) from a neutral rating to a buy rating in a research report released on Friday, MarketBeat.com reports. Guggenheim currently has $41.00 price target on the biopharmaceutical company’s stock.

Several other research analysts have also issued reports on RVNC. BidaskClub lowered Revance Therapeutics from a hold rating to a sell rating in a research report on Friday, July 20th. Zacks Investment Research lowered Revance Therapeutics from a buy rating to a hold rating in a research report on Wednesday, July 25th. ValuEngine raised Revance Therapeutics from a buy rating to a strong-buy rating in a research report on Thursday, August 2nd. Cantor Fitzgerald set a $50.00 target price on Revance Therapeutics and gave the stock a buy rating in a research report on Thursday, August 2nd. Finally, JMP Securities lowered Revance Therapeutics from an outperform rating to a market perform rating in a research report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $46.50.

Shares of NASDAQ RVNC remained flat at $$20.99 during mid-day trading on Friday. The company had a trading volume of 523,313 shares, compared to its average volume of 205,662. Revance Therapeutics has a 12 month low of $20.52 and a 12 month high of $37.45.

Revance Therapeutics (NASDAQ:RVNC) last announced its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.95) by $0.04. The business had revenue of $2.36 million during the quarter, compared to analyst estimates of $0.49 million. Revance Therapeutics had a negative return on equity of 61.45% and a negative net margin of 4,205.52%. Research analysts forecast that Revance Therapeutics will post -3.83 earnings per share for the current year.

In related 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 directly owns 6,938 shares of the company’s stock, valued at approximately $164,569.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.86% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new position in shares of Revance Therapeutics in the 2nd quarter worth about $209,000. Cubist Systematic Strategies LLC raised its position in shares of Revance Therapeutics by 43.2% in the 2nd 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 raised its position in shares of Revance Therapeutics by 25.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock worth $299,000 after acquiring an additional 2,232 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Revance Therapeutics by 19.6% in the 2nd quarter. Voya Investment Management LLC now owns 12,433 shares of the biopharmaceutical company’s stock worth $341,000 after acquiring an additional 2,041 shares in the last quarter. Finally, Nottingham Advisors Inc. raised its position in shares of Revance Therapeutics by 17.7% in the 2nd quarter. Nottingham Advisors Inc. now owns 13,312 shares of the biopharmaceutical company’s stock worth $365,000 after acquiring an additional 2,000 shares in the last quarter. 94.14% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Revance Therapeutics (NASDAQ:RVNC)

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