Cantor Fitzgerald Reiterates $50.00 Price Target for Revance Therapeutics, Inc. (RVNC)
Cantor Fitzgerald set a $50.00 price target on Revance Therapeutics, Inc. (NASDAQ:RVNC) in a research report report published on Thursday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other research firms have also recently weighed in on RVNC. Zacks Investment Research raised Revance Therapeutics from a hold rating to a buy rating and set a $26.00 target price on the stock in a research note on Wednesday, August 30th. BidaskClub raised Revance Therapeutics from a sell rating to a hold rating in a research note on Friday, August 18th. Piper Jaffray Companies set a $28.00 price target on Revance Therapeutics and gave the company a buy rating in a research note on Wednesday, July 26th. Mizuho started coverage on Revance Therapeutics in a research note on Thursday. They issued a buy rating and a $37.00 price target for the company. Finally, JMP Securities started coverage on Revance Therapeutics in a research note on Tuesday, August 22nd. They issued an outperform rating and a $34.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Revance Therapeutics presently has a consensus rating of Buy and an average target price of $35.50.
Revance Therapeutics (RVNC) opened at $25.95 on Thursday. 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 earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the Thomson Reuters’ 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 last year, the firm earned ($0.64) EPS. The company’s revenue was up .0% compared to the same quarter last year. analysts forecast that Revance Therapeutics will post -3.73 EPS for the current year.
In related news, CEO L Daniel Browne sold 7,600 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $23.58, for a total value of $179,208.00. Following the completion of the sale, the chief executive officer now owns 148,450 shares of the company’s stock, valued at approximately $3,500,451. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Lauren P. Silvernail sold 11,164 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $26.67, for a total value of $297,743.88. The disclosure for this sale can be found here. In the last three months, insiders sold 59,226 shares of company stock valued at $1,464,618. 18.86% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in Revance Therapeutics by 4.8% during the second 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 period. QS Investors LLC bought a new stake in Revance Therapeutics during the second quarter worth approximately $1,564,000. Essex Investment Management Co. LLC boosted its position in Revance Therapeutics by 26.6% during the second quarter. Essex Investment Management Co. LLC now owns 124,932 shares of the biopharmaceutical company’s stock worth $3,298,000 after purchasing an additional 26,248 shares during the period. Franklin Resources Inc. boosted its position in Revance Therapeutics by 13.1% during the second 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 period. Finally, Schwab Charles Investment Management Inc. boosted its position in Revance Therapeutics by 20.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 111,757 shares of the biopharmaceutical company’s stock worth $2,951,000 after purchasing an additional 19,267 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.
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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