Revance Therapeutics, Inc. (RVNC) Given Buy Rating at Cantor Fitzgerald
Cantor Fitzgerald reiterated their buy rating on shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) in a research report sent to investors on Wednesday morning. They currently have a $50.00 target price on the biopharmaceutical company’s stock.
“Today Revance announced that Mark Foley has been appointed to the Board of Directors, effective 9/5/17.”,” the firm’s analyst wrote.
RVNC has been the subject of several other research reports. Zacks Investment Research upgraded Revance Therapeutics from a hold rating to a buy rating and set a $26.00 price objective for the company in a report on Wednesday, August 30th. BidaskClub upgraded Revance Therapeutics from a hold rating to a buy rating in a report on Thursday, July 6th. Piper Jaffray Companies set a $28.00 price objective on Revance Therapeutics and gave the company a buy rating in a report on Wednesday, July 26th. ValuEngine upgraded Revance Therapeutics from a sell rating to a hold rating in a report on Friday, June 9th. Finally, Aegis restated a buy rating and issued a $36.00 price objective on shares of Revance Therapeutics in a report on Thursday, June 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $34.80.
Shares of Revance Therapeutics (NASDAQ RVNC) traded up 0.99% on Wednesday, reaching $25.50. The company’s stock had a trading volume of 30,485 shares. Revance Therapeutics has a 52-week low of $12.35 and a 52-week high of $28.30. The company has a 50 day moving average price of $23.38 and a 200 day moving average price of $22.29. The company’s market cap is $785.88 million.
Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.93) by $0.03. The firm had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.05 million. Revance Therapeutics had a negative return on equity of 55.21% and a negative net margin of 32,936.67%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.88) EPS. On average, analysts anticipate that Revance Therapeutics will post ($3.77) earnings per share for the current fiscal year.
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In other news, CEO L Daniel Browne sold 22,800 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $22.76, for a total value of $518,928.00. Following the completion of the transaction, the chief executive officer now owns 178,850 shares in the company, valued at approximately $4,070,626. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.86% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake 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 stake 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 acquired a new stake in Revance Therapeutics in the 2nd quarter valued at about $231,000. American International Group Inc. lifted its stake 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. Finally, Voya Investment Management LLC acquired a new stake in Revance Therapeutics in the 2nd quarter valued at about $274,000. Institutional investors own 89.32% of the company’s stock.
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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