Revance Therapeutics (NASDAQ:RVNC) Price Target Lowered to $11.00 at HC Wainwright

Revance Therapeutics (NASDAQ:RVNC) had its target price dropped by analysts at HC Wainwright from $12.00 to $11.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 234.35% from the company’s previous close.

Several other brokerages also recently commented on RVNC. Piper Sandler reaffirmed an “overweight” rating and set a $11.00 target price (down from $20.00) on shares of Revance Therapeutics in a report on Friday. The Goldman Sachs Group cut their target price on Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday. Needham & Company LLC cut their target price on Revance Therapeutics from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Friday. Mizuho dropped their price objective on Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Barclays dropped their price objective on Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.50.

Revance Therapeutics Stock Down 0.9 %

Shares of RVNC traded down $0.03 during midday trading on Monday, hitting $3.29. The company’s stock had a trading volume of 1,678,803 shares, compared to its average volume of 1,856,315. Revance Therapeutics has a one year low of $3.00 and a one year high of $35.46. The company’s fifty day simple moving average is $4.60 and its two-hundred day simple moving average is $6.12. The stock has a market capitalization of $343.64 million, a price-to-earnings ratio of -0.90 and a beta of 1.16.

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

Insider Buying and Selling

In related news, insider Dwight Moxie sold 8,125 shares of the company’s stock in a transaction that occurred 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 approximately $694,587.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, President Dustin S. Sjuts sold 9,211 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $5.04, for a total value of $46,423.44. Following the completion of the sale, the president now directly owns 167,550 shares of the company’s stock, valued at $844,452. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dwight Moxie sold 8,125 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $5.04, for a total value of $40,950.00. Following the completion of the sale, the insider now directly owns 137,815 shares of the company’s stock, valued at $694,587.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,089 shares of company stock valued at $143,642. 3.50% of the stock is owned by company insiders.

Institutional Trading of Revance Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Assetmark Inc. raised its stake in shares of Revance Therapeutics by 63.2% in the third quarter. Assetmark Inc. now owns 3,257 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,261 shares during the last quarter. Swiss National Bank raised its stake in shares of Revance Therapeutics by 1.2% in the third quarter. Swiss National Bank now owns 184,750 shares of the biopharmaceutical company’s stock worth $2,119,000 after purchasing an additional 2,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Revance Therapeutics by 17.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,083 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 2,622 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Revance Therapeutics by 3.6% during the third quarter. Commonwealth Equity Services LLC now owns 99,129 shares of the biopharmaceutical company’s stock valued at $1,137,000 after acquiring an additional 3,478 shares during the last quarter. Finally, Daymark Wealth Partners LLC increased its position in shares of Revance Therapeutics by 20.8% during the fourth quarter. Daymark Wealth Partners LLC now owns 29,000 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 5,000 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

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 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.