Revance Therapeutics (RVNC) Given a $50.00 Price Target at Cantor Fitzgerald
Cantor Fitzgerald set a $50.00 target price on Revance Therapeutics (NASDAQ:RVNC) in a research report sent to investors on Tuesday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Revance Therapeutics from a buy rating to a hold rating in a research note on Thursday, September 7th. Mizuho initiated coverage on shares of Revance Therapeutics in a research note on Thursday, November 16th. They issued a buy rating and a $37.00 price objective for the company. Piper Jaffray Companies restated a buy rating and issued a $28.00 price objective on shares of Revance Therapeutics in a research note on Friday, October 27th. Finally, JMP Securities initiated coverage on shares of Revance Therapeutics in a research note on Tuesday, August 22nd. They issued an outperform rating and a $34.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Revance Therapeutics has an average rating of Buy and a consensus target price of $42.11.
Shares of Revance Therapeutics (NASDAQ RVNC) traded up $1.90 during mid-day trading on Tuesday, hitting $34.65. 979,303 shares of the stock were exchanged, compared to its average volume of 945,372. Revance Therapeutics has a 52 week low of $15.90 and a 52 week high of $37.20.
Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.06). Revance Therapeutics had a negative net margin of 37,161.00% and a negative return on equity of 67.85%. The business had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.05 million. During the same quarter in the prior year, the company posted ($0.64) EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. sell-side analysts forecast that Revance Therapeutics will post -3.73 earnings per share for the current year.
In other Revance Therapeutics news, CFO Lauren P. Silvernail sold 10,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $26.83, for a total transaction of $268,300.00. Following the sale, the chief financial officer now owns 59,006 shares of the company’s stock, valued at approximately $1,583,130.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO L Daniel Browne sold 7,600 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $24.94, for a total transaction of $189,544.00. Following the sale, the chief executive officer now directly owns 133,188 shares in the company, valued at approximately $3,321,708.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,026 shares of company stock worth $1,135,234. 18.86% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in Revance Therapeutics by 4.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,626,603 shares of the biopharmaceutical company’s stock worth $95,743,000 after acquiring an additional 166,759 shares during the last quarter. Franklin Resources Inc. grew its holdings in Revance Therapeutics by 13.1% during the 2nd quarter. Franklin Resources Inc. now owns 3,375,238 shares of the biopharmaceutical company’s stock worth $89,106,000 after acquiring an additional 391,638 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Revance Therapeutics by 14.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,079,562 shares of the biopharmaceutical company’s stock worth $54,901,000 after acquiring an additional 261,764 shares during the last quarter. Vanguard Group Inc. grew its holdings in Revance Therapeutics by 7.3% during the 2nd quarter. Vanguard Group Inc. now owns 931,623 shares of the biopharmaceutical company’s stock worth $24,595,000 after acquiring an additional 63,505 shares during the last quarter. Finally, State Street Corp grew its holdings in Revance Therapeutics by 0.6% during the 2nd quarter. State Street Corp now owns 452,490 shares of the biopharmaceutical company’s stock worth $11,944,000 after acquiring an additional 2,637 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
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Revance Therapeutics Company Profile
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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