Brokerages Set Revance Therapeutics Inc (RVNC) Target Price at $49.71
Shares of Revance Therapeutics Inc (NASDAQ:RVNC) have been given a consensus recommendation of “Buy” by the fourteen analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $49.71.
RVNC has been the subject of a number of recent research reports. Cantor Fitzgerald set a $50.00 price target on shares of Revance Therapeutics and gave the stock a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. BidaskClub upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. ValuEngine upgraded shares of Revance Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. Finally, JMP Securities downgraded shares of Revance Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, September 17th.
Shares of NASDAQ RVNC traded up $0.75 during midday trading on Tuesday, reaching $25.10. 444,799 shares of the stock were exchanged, compared to its average volume of 248,549. The company has a market cap of $927.14 million, a PE ratio of -6.26 and a beta of 1.28. Revance Therapeutics has a 52-week low of $22.25 and a 52-week high of $37.45.
A number of institutional investors have recently added to or reduced their stakes in RVNC. Cubist Systematic Strategies LLC purchased a new stake in Revance Therapeutics in the first quarter valued at approximately $189,000. Xact Kapitalforvaltning AB purchased a new stake in Revance Therapeutics in the second quarter valued at approximately $209,000. Verition Fund Management LLC purchased a new stake in Revance Therapeutics in the first quarter valued at approximately $233,000. Levin Capital Strategies L.P. acquired a new position in Revance Therapeutics during the first quarter valued at approximately $277,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in Revance Therapeutics by 25.8% during the second quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 2,232 shares in the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.
Revance Therapeutics Company Profile
Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.
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