Revance Therapeutics Inc. (NASDAQ:RVNC) marked $33.51 per share on Monday, up from a previous closing price of $31.70. While Revance Therapeutics Inc. has overperformed by 5.71%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RVNC rose by 138.85%, with highs and lows ranging from $31.92 to $11.27, whereas the simple moving average jumped by 68.05% in the last 200 days.
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On October 11, 2022, Morgan Stanley started tracking Revance Therapeutics Inc. (NASDAQ: RVNC) recommending Equal-Weight. A report published by Goldman on September 22, 2022, Initiated its previous ‘Buy’ rating for RVNC. Wells Fargo also Downgraded RVNC shares as ‘Equal Weight’, setting a target price of $17 on the company’s shares in a report dated October 25, 2021. Needham Reiterated the rating as Buy on October 15, 2020, but set its price target from $36 to $42. Mizuho initiated its ‘Buy’ rating for RVNC, as published in its report on August 11, 2020. Goldman’s report from March 23, 2020 suggests a price prediction of $15 for RVNC shares, giving the stock a ‘Neutral’ rating. Goldman also rated the stock as ‘Buy’.
Analysis of Revance Therapeutics Inc. (RVNC)
Further, the quarter-over-quarter increase in sales is 47.20%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Revance Therapeutics Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -461.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 5.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.50M can be a very valuable indicator of volatility for RVNC stock. On a monthly basis, the volatility of the stock is set at 7.36%, whereas on a weekly basis, it is put at 7.35%, with a gain of 20.02% over the past seven days. Furthermore, long-term investors anticipate a median target price of $33.00, showing decline from the present price of $33.51, which can serve as yet another indication of whether RVNC is worth investing in or should be passed over.
How Do You Analyze Revance Therapeutics Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 89.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in RVNC shares?
The recent increase in stakes in RVNC appears to be a result of several institutional investors and hedge funds increasing their positions. Capital Research & Management Co’s position in RVNC has increased by 5.16% in the first quarter. The company now owns 8,463,909 shares of the stock, with a value of $156.24 million, following the purchase of 415,071 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in RVNC during the first quarter, upping its stake by 5.72%. During the last quarter, the company picked up 274,917 additional shares for a total stake of worth $93.79 million, bringing number of shares owned by the company to 5,080,816.
At the end of the first quarter, GIC Pte Ltd. increased its RVNC holdings by 9.01% and now holds 4.18 million RVNC shares valued at $77.09 million with the added 0.35 million shares during the period. RVNC shares are owned by institutional investors to the tune of 89.40% at present.
