Mizuho Raises Revance Therapeutics (RVNC) Price Target to $54.00
Revance Therapeutics (NASDAQ:RVNC) had its target price increased by research analysts at Mizuho from $37.00 to $54.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Mizuho’s price target would suggest a potential upside of 60.48% from the company’s current price.
RVNC has been the topic of several other reports. Zacks Investment Research raised Revance Therapeutics from a “sell” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, August 9th. Piper Jaffray Companies reissued a “buy” rating and issued a $28.00 price target on shares of Revance Therapeutics in a research note on Friday, October 27th. Cantor Fitzgerald set a $50.00 price target on Revance Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 24th. BidaskClub lowered Revance Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Guggenheim assumed coverage on Revance Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $40.75.
Shares of Revance Therapeutics (NASDAQ RVNC) traded down $1.10 during mid-day trading on Wednesday, reaching $33.65. The company had a trading volume of 2,240,293 shares, compared to its average volume of 226,904. Revance Therapeutics has a 1-year low of $15.85 and a 1-year high of $37.20.
In other news, CEO L Daniel Browne sold 7,600 shares of the company’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 transaction of $179,208.00. Following the transaction, the chief executive officer now directly owns 148,450 shares of the company’s stock, valued at $3,500,451. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark J. Foley bought 20,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were purchased at an average cost of $26.96 per share, for a total transaction of $539,200.00. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $161,760. The disclosure for this purchase can be found here. Insiders have sold 44,026 shares of company stock worth $1,135,234 over the last ninety days. 18.86% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Revance Therapeutics during the third quarter worth approximately $144,000. Bank of America Corp DE raised its position 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 during the period. Legal & General Group Plc raised its position 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 during the period. Trexquant Investment LP bought a new stake in Revance Therapeutics during the second quarter worth $231,000. Finally, Voya Investment Management LLC bought a new stake in Revance Therapeutics during the second quarter worth $274,000. 88.70% of the stock is currently owned by institutional investors.
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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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