Guggenheim Initiates Coverage on Revance Therapeutics (RVNC)
Stock analysts at Guggenheim initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a note issued to investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.
A number of other brokerages have also weighed in on RVNC. Cantor Fitzgerald set a $50.00 target price on Revance Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Zacks Investment Research lowered Revance Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Barclays began coverage on Revance Therapeutics in a research note on Monday, November 27th. They issued an “overweight” rating and a $31.00 target price on the stock. ValuEngine lowered Revance Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Piper Jaffray Companies upped their target price on Revance Therapeutics from $28.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Revance Therapeutics has an average rating of “Buy” and a consensus target price of $38.14.
Shares of Revance Therapeutics (NASDAQ:RVNC) traded up $8.75 on Tuesday, reaching $34.75. The company had a trading volume of 8,133,983 shares, compared to its average volume of 218,294. Revance Therapeutics has a twelve month low of $15.85 and a twelve month high of $37.20.
In other news, CFO Lauren P. Silvernail sold 11,164 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $26.67, for a total transaction of $297,743.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO L Daniel Browne sold 7,600 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $23.58, for a total value of $179,208.00. Following the transaction, the chief executive officer now owns 148,450 shares in the company, valued at $3,500,451. The disclosure for this sale can be found here. Insiders have sold a total of 44,026 shares of company stock worth $1,135,234 over the last quarter. Corporate insiders own 18.86% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Pura Vida Investments LLC bought a new position in shares of Revance Therapeutics during the 3rd quarter valued at about $1,378,000. Schwab Charles Investment Management Inc. increased its position in shares of Revance Therapeutics by 4.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 117,258 shares of the biopharmaceutical company’s stock valued at $3,231,000 after purchasing an additional 5,501 shares during the last quarter. EAM Investors LLC increased its position in shares of Revance Therapeutics by 113.9% during the 3rd quarter. EAM Investors LLC now owns 72,518 shares of the biopharmaceutical company’s stock valued at $1,998,000 after purchasing an additional 38,621 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Revance Therapeutics during the 3rd quarter valued at about $144,000. Finally, Alps Advisors Inc. increased its position in shares of Revance Therapeutics by 11.1% during the 3rd quarter. Alps Advisors Inc. now owns 30,351 shares of the biopharmaceutical company’s stock valued at $836,000 after purchasing an additional 3,027 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.
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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