At the time of writing, Revance Therapeutics Inc [RVNC] stock is trading at $6.50, up 7.08%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The RVNC shares have gain 14.04% over the last week, with a monthly amount glided 21.04%, and seem to be holding up well over a long-time horizon.
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On 4, March 2024, Revance Announces Pricing of $100.0 Million Public Offering of Common Stock. In a post published today on Yahoo Finance, Revance Therapeutics, Inc. (Nasdaq: RVNC) (“Revance” or the “Company”) today announced the pricing of an underwritten public offering of 16,000,000 shares of its common stock. The shares of common stock are being offered at a public offering price of $6.25 per share. The gross proceeds from the public offering are expected to be $100.0 million, before deducting underwriting discounts and commissions and other offering expenses. The public offering is expected to close on or about March 6, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering to advance the commercial growth of its aesthetics portfolio, including DAXXIFY® and the RHA® Collection of dermal fillers, support the launch of DAXXIFY® into the therapeutics market, as well as for working capital, research and development and general corporate purposes.
From an analyst’s perspective:
Revance Therapeutics Inc [NASDAQ: RVNC] stock has seen the most recent analyst activity on January 29, 2024, when Mizuho downgraded its rating to a Neutral and also revised its price target to $9 from $16. Previously, Goldman downgraded its rating to Neutral on January 09, 2024, and dropped its price target to $8. On August 16, 2023, upgrade upgraded it’s rating to Neutral but maintained its price target of $20 on the stock. Morgan Stanley started tracking the stock assigning a Equal-Weight rating and suggested a price target of $27 on October 11, 2022. Goldman initiated its recommendation with a Buy and recommended $33 as its price target on September 22, 2022. Wells Fargo downgraded its rating to Equal Weight for this stock on October 25, 2021, and downed its price target to $17. In a note dated October 15, 2020, Needham reiterated an Buy rating on this stock and boosted its target price from $36 to $42.
For the past year, the stock price of Revance Therapeutics Inc fluctuated between $5.00 and $37.98. Currently, Wall Street analysts expect the stock to reach $32 within the next 12 months. Revance Therapeutics Inc [NASDAQ: RVNC] shares were valued at $6.50 at the most recent close of the market. An investor can expect a potential return of 392.31% based on the average RVNC price forecast.
Analyzing the RVNC fundamentals
According to Revance Therapeutics Inc [NASDAQ:RVNC], the company’s sales were 234.04M for trailing twelve months, which represents an 39.82% jump. Gross Profit Margin for this corporation currently stands at 0.62% with Operating Profit Margin at -1.58%, Pretax Profit Margin comes in at -1.93%, and Net Profit Margin reading is -1.96%. To continue investigating profitability, this company’s Return on Assets is posted at -0.79, Equity is 17.93 and Total Capital is -0.75. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -4.59.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 6.12 points at the first support level, and at 5.74 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.80, and for the 2nd resistance point, it is at 7.10.
Revance Therapeutics Inc [RVNC] reported earnings per share of -$0.62 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.72/share, meaning a difference of $0.1 and a surprise factor of 13.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$1.63 per share as compared to estimates of -$0.85 per share, a difference of -$0.78 representing a surprise of -91.80%.
Ratios To Look Out For
It is important to note that Revance Therapeutics Inc [NASDAQ:RVNC] has a current ratio of 3.80. As well, the Quick Ratio is 3.29, while the Cash Ratio is 2.18. Considering the valuation of this stock, the price to sales ratio is 2.45.
Transactions by insiders
Recent insider trading involved Moxie Dwight, SVP, GC & Secretary, that happened on Sep 06 when 11000.0 shares were sold. SVP, GC & Secretary, Moxie Dwight completed a deal on Sep 05 to sell 23853.0 shares. Meanwhile, CEO Foley Mark J sold 26279.0 shares on Aug 03.
