Needham maintained its Revance Therapeutics [RVNC] rating to the equivalent of Buy but changed the price target to $45.0 from $42, in a research note dated 2021-01-08. That figure represents around a 52.08% premium from where the company’s shares closed on Thursday. Meanwhile, Goldman had lowered its rating on RVNC to “Neutral” from the earlier “Buy”, in a research note produced for clients March 23, 2020. In addition, Goldman launched coverage on December 02, 2019. The research firm rated RVNC “a Buy”.
Is Revance Therapeutics Inc. [NASDAQ:RVNC] a Good Buy Right Now?
It should be noted that RVNC technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 72% Buy in the last week and compares with 24% Sell in the past month. Data from Revance Therapeutics Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.54 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.51 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.58 million shares.
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RVNC Price Performance
On Wall Street, Revance Therapeutics Inc. [NASDAQ:RVNC] finished Thursday’s session up 8.79% at $29.59. The stock went up to $29.845 at the same session while its lowest single day price was $27.38. In the last five days, it saw a rise of about 4.78%, Revance Therapeutics Inc. shares gained by almost 4.41% since the beginning of the year. However, the share price has dropped to as low as -14.53% below its one year high. On 01/07/21, the company shares recorded $29.84, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $26.70. The company’s shares have inclined by 77.98% in the past year. The 50-day SMA achieved is $26.09 while the 200-day SMA is $23.83. Volume gained to 0.68 million from 0.4 million in the previous session.
RVNC Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 28.03 level, and in case of violation of this particular level, it will cause more drop to 26.47 level. On the upper level, 31.40 is still the key resistance. The stock may increase to the subsequent resistance at 30.50. The Relative Strength Index (RSI) pinned on the 14-day chart is 65.78, implying a neutral technical stance while the MACD stands at 0.25, meaning price will decrease in the next trading period. Percent R indicator moved to 6.67%, implying bullish price movement. Stochastic %K at 59.17% suggest selling the stock.
What is the short interest in Revance Therapeutics Inc.?
Short interest in the Revance Therapeutics Inc. stock has plunged, decreasing by -0.17 million shares to total 4.32 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.15 million, data from Yahoo Finance shows. The increase of 3.94% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 7.31% of the overall float for the stock.
Revance Therapeutics Inc.’s Biggest Shareholders: Who Owns Revance Therapeutics Inc. [RVNC]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 4,409,424 shares or roughly 6.63% of the outstanding RVNC shares. This means their shares have increased by 407,676 from the 4,409,424 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Wellington Management Co. LLP updated stake is worth $86,000,947. Details in the latest 13F filings reveal that The Vanguard Group, Inc. acquired their 9.10% stake valued at $72,273,977 while GIC Pte Ltd.. During the last quarter, The Vanguard Group, Inc. raised 249,713 of its shares in Revance Therapeutics Inc. while GIC Pte Ltd. bought 2,965,551 shares. The ArrowMark Colorado Holdings LLC’s holdings currently number 2,762,806 shares at $81751429.54. According to the firm’s last 13F report, AllianceBernstein LP shares in the company at filing stood at 2,603,516 shares, roughly $62,848,876.
RVNC Earnings Forecast For The Current Quarter
Revance Therapeutics Inc. [RVNC] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $5.82M and an earnings per share of -$1.26 for Dec 2020. Looking further ahead, the company is expected to report revenue of $10.16M at an EPS of -$1.18 for Mar 2021. The estimates represent upside of 736.40% and 12.90% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
RVNC Earnings Estimates For The Current Year
For the financial year, Revance Therapeutics Inc. [NASDAQ:RVNC] is expected to bring in revenue of $10.47M. The returns are nearly $10.06 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -4.78, lower than that of FY19 by -$1.11. Estimates put this year’s earnings growth at -30.20%, 13.60% for the next, and at an annual 11.60% over the next 5-year period. As for sales, forecasts are for an increase of 2,435.10% in the current fiscal year and a further 736.40% over the following year.