Revance Therapeutics (NASDAQ:RVNC) received a $50.00 price objective from analysts at Cantor Fitzgerald in a report released on Tuesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 48.59% from the stock’s previous close.
RVNC has been the topic of a number of other reports. Zacks Investment Research raised Revance Therapeutics from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, August 30th. ValuEngine cut shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday. Piper Jaffray Companies reiterated a “buy” rating and issued a $28.00 target price on shares of Revance Therapeutics in a research note on Friday, October 27th. Finally, Barclays started coverage on shares of Revance Therapeutics in a research note on Monday, November 27th. They issued an “overweight” rating and a $31.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Revance Therapeutics has an average rating of “Buy” and a consensus target price of $40.75.
Shares of Revance Therapeutics (RVNC) opened at $33.65 on Tuesday. Revance Therapeutics has a 1 year low of $15.85 and a 1 year high of $37.20.
Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $0.05 million. During the same period last year, the business earned ($0.64) earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. equities research analysts anticipate that Revance Therapeutics will post -3.73 EPS for the current year.
In related news, Director Mark J. Foley acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was purchased at an average price of $26.96 per share, for a total transaction of $539,200.00. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $161,760. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lauren P. Silvernail sold 11,164 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $26.67, for a total transaction of $297,743.88. The disclosure for this sale can be found here. Insiders sold 44,026 shares of company stock valued at $1,135,234 in the last quarter. 18.86% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in Revance Therapeutics by 4.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,626,603 shares of the biopharmaceutical company’s stock worth $95,743,000 after purchasing an additional 166,759 shares during the last quarter. Franklin Resources Inc. raised its position in Revance Therapeutics by 13.1% in the 2nd quarter. Franklin Resources Inc. now owns 3,375,238 shares of the biopharmaceutical company’s stock worth $89,106,000 after purchasing an additional 391,638 shares during the last quarter. Bank of New York Mellon Corp raised its position in Revance Therapeutics by 14.4% in 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 purchasing an additional 261,764 shares during the last quarter. Vanguard Group Inc. raised its position in Revance Therapeutics by 7.3% in the 2nd quarter. Vanguard Group Inc. now owns 931,623 shares of the biopharmaceutical company’s stock worth $24,595,000 after purchasing an additional 63,505 shares during the last quarter. Finally, State Street Corp raised its position in Revance Therapeutics by 0.6% in the 2nd quarter. State Street Corp now owns 452,490 shares of the biopharmaceutical company’s stock worth $11,944,000 after purchasing an additional 2,637 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.
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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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