Fintel reports that on September 21, 2023, Goldman Sachs maintained coverage of Revance Therapeutics (NASDAQ:RVNC) with a Buy recommendation.
Analyst Price Forecast Suggests 204.74% Upside
As of August 31, 2023, the average one-year price target for Revance Therapeutics is 40.06. The forecasts range from a low of 20.20 to a high of $68.25. The average price target represents an increase of 204.74% from its latest reported closing price of 13.14.
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The projected annual revenue for Revance Therapeutics is 220MM, an increase of 18.22%. The projected annual non-GAAP EPS is -3.53.
What is the Fund Sentiment?
There are 498 funds or institutions reporting positions in Revance Therapeutics. This is an increase of 36 owner(s) or 7.79% in the last quarter. Average portfolio weight of all funds dedicated to RVNC is 0.21%, a decrease of 11.31%. Total shares owned by institutions increased in the last three months by 11.75% to 108,828K shares. The put/call ratio of RVNC is 0.68, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 9,575K shares representing 10.89% ownership of the company. In it’s prior filing, the firm reported owning 10,076K shares, representing a decrease of 5.23%. The firm decreased its portfolio allocation in RVNC by 30.52% over the last quarter.
SMCWX – SMALLCAP WORLD FUND INC holds 6,378K shares representing 7.25% ownership of the company. In it’s prior filing, the firm reported owning 6,584K shares, representing a decrease of 3.22%. The firm decreased its portfolio allocation in RVNC by 27.92% over the last quarter.
Palo Alto Investors holds 5,229K shares representing 5.94% ownership of the company. In it’s prior filing, the firm reported owning 5,270K shares, representing a decrease of 0.80%. The firm decreased its portfolio allocation in RVNC by 23.98% over the last quarter.
Jpmorgan Chase holds 4,694K shares representing 5.34% ownership of the company. In it’s prior filing, the firm reported owning 5,164K shares, representing a decrease of 10.02%. The firm increased its portfolio allocation in RVNC by 407.38% over the last quarter.
Polar Capital Holdings holds 4,168K shares representing 4.74% ownership of the company. No change in the last quarter.
Revance Therapeutics Background Information
(This description is provided by the company.)
Revance Therapeutics, Inc. is a biotechnology company focused on innovative aesthetic and therapeutic offerings, including its next-generation neuromodulator product, DaxibotulinumtoxinA for Injection. DaxibotulinumtoxinA for Injection combines a proprietary stabilizing peptide excipient with a highly purified botulinum toxin that does not contain human or animal-based components. Revance has successfully completed a Phase 3 program for DaxibotulinumtoxinA for Injection in glabellar (frown) lines and is pursuing U.S. regulatory approval. Revance is also evaluating DaxibotulinumtoxinA for Injection in the full upper face, including glabellar lines, forehead lines and crow’s feet, as well as in two therapeutic indications – cervical dystonia and adult upper limb spasticity. To accompany DaxibotulinumtoxinA for Injection, Revance owns a unique portfolio of premium products and services for U.S. aesthetics practices, including the exclusive U.S. distribution rights to the RHA® Collection of dermal fillers, the first and only range of FDA-approved fillers for correction of dynamic facial wrinkles and folds, and the HintMD fintech platform, which provides an integrated smart payment solution that supports aesthetic practice management, practice economics and practice loyalty. Revance has also partnered with Viatris (formerly Mylan N.V.) to develop a biosimilar to BOTOX®, which would compete in the existing short-acting neuromodulator marketplace. Revance is dedicated to making a difference by transforming patient experiences.
This article originally appeared on Fintel
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