Revance Therapeutics, Inc. (RVNC) Receives $37.00 Consensus PT from Brokerages
Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) have been assigned a consensus recommendation of “Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $37.00.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Revance Therapeutics from a “sell” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, August 9th. Piper Jaffray Companies reissued a “buy” rating and set a $28.00 price objective on shares of Revance Therapeutics in a report on Friday, October 27th. Cantor Fitzgerald set a $50.00 price objective on shares of Revance Therapeutics and gave the stock a “buy” rating in a report on Tuesday, October 24th. BidaskClub lowered shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, JMP Securities assumed coverage on shares of Revance Therapeutics in a report on Tuesday, August 22nd. They set an “outperform” rating and a $34.00 price objective for the company.
In related news, CFO Lauren P. Silvernail sold 11,164 shares of Revance Therapeutics stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $26.67, for a total value of $297,743.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO L Daniel Browne sold 7,600 shares of Revance Therapeutics stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $24.94, for a total transaction of $189,544.00. Following the completion of the sale, the chief executive officer now owns 133,188 shares in the company, valued at $3,321,708.72. The disclosure for this sale can be found here. Insiders sold a total of 44,026 shares of company stock valued at $1,135,234 over the last ninety days. Company insiders own 18.86% of the company’s stock.
A number of large investors have recently modified their holdings of RVNC. SG Americas Securities LLC bought a new stake in Revance Therapeutics in the 3rd quarter valued at about $144,000. Bank of America Corp DE lifted its position in Revance Therapeutics by 29.5% in the 1st quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 1,651 shares during the last quarter. Legal & General Group Plc lifted its position in Revance Therapeutics by 8.1% in the 2nd quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock valued at $152,000 after purchasing an additional 438 shares during the last quarter. Trexquant Investment LP bought a new stake in Revance Therapeutics in the 2nd quarter valued at about $231,000. Finally, American International Group Inc. lifted its position in Revance Therapeutics by 7.1% in the 1st quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 834 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.
Revance Therapeutics (NASDAQ RVNC) traded up $0.45 during trading on Wednesday, reaching $26.50. 136,215 shares of the company traded hands, compared to its average volume of 212,780. Revance Therapeutics has a 12-month low of $15.85 and a 12-month high of $28.75.
Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.06). Revance Therapeutics had a negative return on equity of 67.85% and a negative net margin of 37,161.00%. The firm had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.05 million. During the same period last year, the firm earned ($0.64) EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. analysts expect that Revance Therapeutics will post -3.73 earnings per share for the current fiscal year.
About Revance Therapeutics
Revance Therapeutics, Inc is a clinical-stage biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical.
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