Revance Therapeutics (RVNC) Price Target Raised to $51.00 at Piper Jaffray Companies
Revance Therapeutics (NASDAQ:RVNC) had its price objective increased by Piper Jaffray Companies from $28.00 to $51.00 in a report issued on Tuesday, The Fly reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 96.15% from the company’s previous close.
Several other research firms also recently commented on RVNC. Cantor Fitzgerald set a $50.00 price objective on shares of Revance Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Zacks Investment Research downgraded shares of Revance Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Barclays started coverage on shares of Revance Therapeutics in a research report on Monday, November 27th. They set an “overweight” rating and a $31.00 target price for the company. ValuEngine downgraded shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Mizuho started coverage on shares of Revance Therapeutics in a research report on Thursday, November 16th. They set a “buy” rating and a $37.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $38.14.
Revance Therapeutics (NASDAQ:RVNC) traded down $1.65 during trading hours on Tuesday, hitting $26.00. 257,300 shares of the stock traded hands, compared to its average volume of 184,325. Revance Therapeutics has a 1-year low of $15.85 and a 1-year high of $28.75.
In other Revance Therapeutics news, CEO L Daniel Browne sold 7,600 shares of Revance Therapeutics stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $24.94, for a total value of $189,544.00. Following the completion of the transaction, the chief executive officer now owns 133,188 shares of the company’s stock, valued at $3,321,708.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark J. Foley acquired 20,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was purchased at an average cost of $26.96 per share, with a total value of $539,200.00. Following the acquisition, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $161,760. The disclosure for this purchase can be found here. Insiders have sold 44,026 shares of company stock valued at $1,135,234 over the last 90 days. 18.86% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of Revance Therapeutics during the third quarter worth about $144,000. Legal & General Group Plc increased its stake in shares of Revance Therapeutics by 8.1% during the second quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 438 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Revance Therapeutics by 29.5% during the first quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 1,651 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Revance Therapeutics during the second quarter worth about $231,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Revance Therapeutics during the second quarter worth about $274,000. 88.70% of the stock is owned by institutional investors.
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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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