The stock of Revance Therapeutics Inc (NASDAQ:RVNC) reached all time low today, Nov, 4 and still has $12.19 target or 11.00% below today’s $13.70 share price. This indicates more downside for the $376.26 million company. This technical setup was reported by Barchart.com. If the $12.19 PT is reached, the company will be worth $41.39M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 114,451 shares traded hands. Revance Therapeutics Inc (NASDAQ:RVNC) has declined 32.38% since April 4, 2016 and is downtrending. It has underperformed by 33.47% the S&P500.
Analysts await Revance Therapeutics Inc (NASDAQ:RVNC) to report earnings on November, 14. They expect $-0.90 earnings per share, down 11.11% or $0.09 from last year’s $-0.81 per share. After $-0.88 actual earnings per share reported by Revance Therapeutics Inc for the previous quarter, Wall Street now forecasts 2.27% negative EPS growth.
Revance Therapeutics Inc (NASDAQ:RVNC) Ratings Coverage
Out of 4 analysts covering Revance Therapeutics (NASDAQ:RVNC), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Revance Therapeutics has been the topic of 5 analyst reports since August 22, 2015 according to StockzIntelligence Inc. SunTrust initiated the shares of RVNC in a report on Wednesday, March 23 with “Buy” rating. On Tuesday, June 14 the stock rating was maintained by Suntrust Robinson with “Buy”. The stock of Revance Therapeutics Inc (NASDAQ:RVNC) has “Buy” rating given on Monday, November 23 by Guggenheim. The firm has “Hold” rating by Zacks given on Saturday, August 22. The company was downgraded on Tuesday, June 14 by Brean Capital.
According to Zacks Investment Research, “Revance is a Silicon Valley-based biotechnology company. The company is developing a portfolio of products for aesthetic medicine and underserved therapeutic specialties, including dermatology and neurology. Revance’s science is based upon a proprietary TransMTSÂ® peptide technology, which when combined with active drug molecules, may help address current unmet needs. Revance’s initial focus is on developing daxibotulinumtoxinA, the company’s highly purified botulinum toxin, for a broad spectrum of aesthetic and therapeutic indications, including facial wrinkles and muscle movement disorders. The company’s lead drug candidate, DaxibotulinumtoxinA for Injection (RT002), is currently in development for the treatment of glabellar lines and cervical dystonia and has the potential to be the first long-acting neurotoxin. The company holds worldwide rights for all indications of RT002 injectable and RT001 topical and the pharmaceutical uses of the TransMTS technology platform.”
Insitutional Activity: The institutional sentiment increased to 1.39 in 2016 Q2. Its up 0.32, from 1.07 in 2016Q1. The ratio is positive, as 15 funds sold all Revance Therapeutics Inc shares owned while 16 reduced positions. 9 funds bought stakes while 34 increased positions. They now own 28.60 million shares or 5.50% more from 27.11 million shares in 2016Q1.
Moreover, Jpmorgan Chase Company has 0.01% invested in Revance Therapeutics Inc (NASDAQ:RVNC) for 3.33 million shares. Alps Advisors, a Colorado-based fund reported 39,990 shares. Zurcher Kantonalbank (Zurich Cantonalbank) owns 380 shares or 0% of their US portfolio. Federated Investors Pa holds 0% or 20,000 shares in its portfolio. Utd Service Automobile Association accumulated 0% or 33,761 shares. Blackrock Inc has 1,893 shares for 0% of their US portfolio. Blackrock Fund last reported 0% of its portfolio in the stock. Winch Advisory Ltd Com last reported 200 shares in the company. Tudor Inv Corp Et Al reported 27,200 shares or 0.01% of all its holdings. Rhumbline Advisers has invested 0% of its portfolio in Revance Therapeutics Inc (NASDAQ:RVNC). Tiaa Cref Invest Lc has invested 0% of its portfolio in Revance Therapeutics Inc (NASDAQ:RVNC). Morgan Stanley accumulated 0% or 90,037 shares. Lombard Odier Asset (Usa) owns 22,515 shares or 0.04% of their US portfolio. Aqr Mngmt Ltd Liability Corporation has 12,073 shares for 0% of their US portfolio. The New York-based Rothschild Asset Mngmt Inc has invested 0% in Revance Therapeutics Inc (NASDAQ:RVNC).
Insider Transactions: Since May 9, 2016, the stock had 0 insider buys, and 3 selling transactions for $212,629 net activity. 12,000 shares were sold by Browne L Daniel, worth $178,199. $18,250 worth of Revance Therapeutics Inc (NASDAQ:RVNC) was sold by Ruegg Curtis.
Another recent and important Revance Therapeutics Inc (NASDAQ:RVNC) news was published by Fool.com which published an article titled: “Why Revance Therapeutics Is Crashing 23% Today” on June 14, 2016.
RVNC Company Profile
Revance Therapeutics, Inc., incorporated on August 10, 1999, is a biotechnology company. The Firm is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. The Company’s TransMTS technology enables delivery of botulinum toxin type A through approximately two investigational drug product candidates, DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical, and DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable. The Company’s botulinum toxin-peptide complex has over two components that contribute to the performance of RT001 and RT002. First, its TransMTS peptide provides the delivery across the skin and restricts the toxin molecule to the target site. Second, the botulinum toxin type A provides the mechanism of pharmacologic action and is responsible for the drug effects demonstrated in its clinical trials.
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