Revance Therapeutics, Inc. (RVNC) Receives Consensus Recommendation of “Buy” from Analysts
Revance Therapeutics, Inc. (NASDAQ:RVNC) has been assigned a consensus rating of “Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $37.00.
A number of brokerages have weighed in on RVNC. BidaskClub raised Revance Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded Revance Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Cantor Fitzgerald restated a “buy” rating and set a $50.00 price objective on shares of Revance Therapeutics in a report on Wednesday. Finally, Aegis restated a “buy” rating and set a $36.00 price objective on shares of Revance Therapeutics in a report on Thursday, June 8th.
In related news, CEO L Daniel Browne sold 22,800 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 178,850 shares in the company, valued at approximately $4,070,626. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 18.86% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in Revance Therapeutics by 34.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 548,650 shares of the biopharmaceutical company’s stock valued at $11,412,000 after buying an additional 141,400 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Revance Therapeutics in the 1st quarter valued at about $739,000. Acadian Asset Management LLC purchased a new position in Revance Therapeutics in the 1st quarter valued at about $735,000. Essex Investment Management Co. LLC boosted its position in Revance Therapeutics by 26.6% in the 2nd quarter. Essex Investment Management Co. LLC now owns 124,932 shares of the biopharmaceutical company’s stock valued at $3,298,000 after buying an additional 26,248 shares during the last quarter. Finally, Swiss National Bank boosted its position in Revance Therapeutics by 6.8% in the 1st quarter. Swiss National Bank now owns 32,850 shares of the biopharmaceutical company’s stock valued at $683,000 after buying an additional 2,100 shares during the last quarter. 89.32% of the stock is owned by institutional investors.
Shares of Revance Therapeutics (NASDAQ:RVNC) opened at 25.70 on Friday. The firm’s 50-day moving average price is $23.46 and its 200 day moving average price is $22.32. The firm’s market cap is $792.05 million. Revance Therapeutics has a 1-year low of $12.35 and a 1-year high of $28.30.
Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.03. Revance Therapeutics had a negative return on equity of 55.21% and a negative net margin of 32,936.67%. The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. During the same quarter in the prior year, the company posted ($0.88) EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts forecast that Revance Therapeutics will post ($3.77) EPS for the current fiscal year.
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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