Revance Therapeutics (RVNC) Stock Price Down 5.7%

Shares of Revance Therapeutics Inc (NASDAQ:RVNC) fell 5.7% during trading on Monday . The company traded as low as $28.95 and last traded at $29.00. 513,066 shares changed hands during mid-day trading, an increase of 52% from the average session volume of 337,191 shares. The stock had previously closed at $30.75.

A number of research firms have commented on RVNC. Mizuho cut their price objective on shares of Revance Therapeutics from $54.00 to $48.00 and set a “buy” rating for the company in a report on Friday, April 20th. BidaskClub upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, April 20th. Zacks Investment Research upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Goldman Sachs Group began coverage on shares of Revance Therapeutics in a report on Monday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Cantor Fitzgerald set a $50.00 price objective on shares of Revance Therapeutics and gave the company a “buy” rating in a report on Tuesday, May 29th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Revance Therapeutics has an average rating of “Buy” and an average price target of $45.91.

The firm has a market capitalization of $1.13 billion, a PE ratio of -7.36 and a beta of 1.33.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.26). The firm had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.15 million. Revance Therapeutics had a negative return on equity of 63.68% and a negative net margin of 33,807.37%. sell-side analysts anticipate that Revance Therapeutics Inc will post -3.87 earnings per share for the current year.

In other news, CFO Lauren P. Silvernail sold 2,874 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $30.25, for a total transaction of $86,938.50. Following the completion of the sale, the chief financial officer now owns 65,497 shares in the company, valued at approximately $1,981,284.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 18.86% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Revance Therapeutics during the 1st quarter worth approximately $704,000. Allianz Asset Management GmbH increased its holdings in Revance Therapeutics by 16.5% in the 1st quarter. Allianz Asset Management GmbH now owns 79,437 shares of the biopharmaceutical company’s stock valued at $2,447,000 after purchasing an additional 11,271 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in Revance Therapeutics in the 1st quarter valued at approximately $277,000. Millennium Management LLC increased its holdings in Revance Therapeutics by 46.8% in the 1st quarter. Millennium Management LLC now owns 1,494,441 shares of the biopharmaceutical company’s stock valued at $46,029,000 after purchasing an additional 476,209 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Revance Therapeutics in the 1st quarter valued at approximately $233,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

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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