Revance Therapeutics, Inc. (NASDAQ:RVNC – Get Free Report)’s share price hit a new 52-week low on Tuesday . The company traded as low as $11.10 and last traded at $11.23, with a volume of 1723315 shares. The stock had previously closed at $16.70.
Wall Street Analysts Forecast Growth
RVNC has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $41.00 price objective on shares of Revance Therapeutics in a research note on Wednesday. BNP Paribas upgraded shares of Revance Therapeutics from an “underperform” rating to a “neutral” rating and set a $20.00 target price for the company in a research note on Wednesday, August 16th. Morgan Stanley cut their target price on shares of Revance Therapeutics from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. Piper Sandler cut their target price on shares of Revance Therapeutics from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Mizuho upped their target price on shares of Revance Therapeutics from $33.00 to $35.00 in a research note on Wednesday, June 7th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.90.
Check Out Our Latest Stock Analysis on RVNC
Revance Therapeutics Trading Down 4.8 %
Revance Therapeutics (NASDAQ:RVNC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.08). Revance Therapeutics had a negative net margin of 191.93% and a negative return on equity of 903.28%. The business had revenue of $58.13 million during the quarter, compared to analyst estimates of $58.71 million. During the same quarter in the prior year, the company posted ($0.88) EPS. The company’s quarterly revenue was up 104.9% compared to the same quarter last year. On average, research analysts forecast that Revance Therapeutics, Inc. will post -2.8 EPS for the current year.
Insider Transactions at Revance Therapeutics
In other news, SVP Dwight Moxie sold 23,853 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $17.81, for a total value of $424,821.93. Following the sale, the senior vice president now owns 55,066 shares of the company’s stock, valued at approximately $980,725.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Dwight Moxie sold 23,853 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $17.81, for a total value of $424,821.93. Following the sale, the senior vice president now owns 55,066 shares of the company’s stock, valued at approximately $980,725.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Tobin Schilke sold 1,701 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $25.04, for a total transaction of $42,593.04. Following the completion of the sale, the chief financial officer now directly owns 79,896 shares in the company, valued at approximately $2,000,595.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,112 shares of company stock valued at $1,715,930. 3.60% of the stock is owned by insiders.
Institutional Investors Weigh In On Revance Therapeutics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virginia Retirement Systems ET AL acquired a new position in shares of Revance Therapeutics during the second quarter worth approximately $347,000. Legato Capital Management LLC grew its stake in shares of Revance Therapeutics by 18.9% during the second quarter. Legato Capital Management LLC now owns 39,766 shares of the biopharmaceutical company’s stock valued at $1,006,000 after purchasing an additional 6,324 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Revance Therapeutics during the second quarter valued at approximately $606,000. Castleark Management LLC grew its stake in shares of Revance Therapeutics by 22.6% during the second quarter. Castleark Management LLC now owns 125,727 shares of the biopharmaceutical company’s stock valued at $3,182,000 after purchasing an additional 23,140 shares during the last quarter. Finally, GTS Securities LLC bought a new stake in shares of Revance Therapeutics during the second quarter valued at approximately $279,000. Institutional investors and hedge funds own 93.28% of the company’s stock.
About Revance Therapeutics
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 DaxibotulinumtoxinA for injection, which has completed phase III clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; is in 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.
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