Revance Therapeutics (RVNC) Hits New 12-Month High on Analyst Upgrade

Revance Therapeutics Inc (NASDAQ:RVNC)’s share price hit a new 52-week high on Tuesday after Mizuho raised their price target on the stock from $37.00 to $54.00. Mizuho currently has a buy rating on the stock. Revance Therapeutics traded as high as $36.40 and last traded at $26.00, with a volume of 257300 shares traded. The stock had previously closed at $27.65.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Revance Therapeutics from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Tuesday, August 22nd. Cantor Fitzgerald reissued a “buy” rating and issued a $50.00 price target on shares of Revance Therapeutics in a research report on Wednesday, September 6th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $28.00 price target on shares of Revance Therapeutics in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.75.

In related news, Director Mark J. Foley purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was acquired at an average cost of $26.96 per share, with a total value of $539,200.00. Following the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $161,760. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lauren P. Silvernail sold 10,000 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $26.83, for a total value of $268,300.00. Following the completion of the sale, the chief financial officer now directly owns 59,006 shares of the company’s stock, valued at $1,583,130.98. 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 three months. 18.86% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Revance Therapeutics by 4.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,626,603 shares of the biopharmaceutical company’s stock valued at $95,743,000 after purchasing an additional 166,759 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Revance Therapeutics by 13.1% during the 2nd quarter. Franklin Resources Inc. now owns 3,375,238 shares of the biopharmaceutical company’s stock valued at $89,106,000 after purchasing an additional 391,638 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 valued at $54,901,000 after purchasing an additional 261,764 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Revance Therapeutics by 7.3% during the 2nd quarter. Vanguard Group Inc. now owns 931,623 shares of the biopharmaceutical company’s stock valued at $24,595,000 after purchasing an additional 63,505 shares during the last quarter. Finally, State Street Corp increased its position in shares of Revance Therapeutics by 0.6% during the 2nd quarter. State Street Corp now owns 452,490 shares of the biopharmaceutical company’s stock valued at $11,944,000 after purchasing an additional 2,637 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Revance Therapeutics (NASDAQ:RVNC) last announced its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $0.05 million. During the same period in the prior year, the business earned ($0.64) earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. equities research analysts expect that Revance Therapeutics Inc will post -3.73 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Revance Therapeutics (RVNC) Hits New 12-Month High on Analyst Upgrade” was originally reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://www.thelincolnianonline.com/2017/12/07/revance-therapeutics-rvnc-hits-new-12-month-high-on-analyst-upgrade.html.

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.

Receive News & Ratings for Revance Therapeutics Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revance Therapeutics Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply