Cowen Reiterates $55.00 Price Target for Revance Therapeutics (RVNC)
Revance Therapeutics (NASDAQ:RVNC) received a $55.00 price target from equities researchers at Cowen in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cowen’s price target would suggest a potential upside of 63.69% from the stock’s previous close.
Several other brokerages have also commented on RVNC. Guggenheim reissued a “neutral” rating and issued a $42.00 price target on shares of Revance Therapeutics in a report on Thursday, January 4th. Mizuho reissued a “buy” rating and issued a $54.00 price target on shares of Revance Therapeutics in a report on Friday, January 5th. Cantor Fitzgerald set a $50.00 price target on shares of Revance Therapeutics and gave the stock a “buy” rating in a report on Thursday, January 4th. Barclays set a $40.00 price target on shares of Revance Therapeutics and gave the stock a “buy” rating in a report on Tuesday, December 19th. Finally, SunTrust Banks boosted their price target on shares of Revance Therapeutics to $53.00 and gave the stock a “buy” rating in a report on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Revance Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $44.30.
Revance Therapeutics (NASDAQ:RVNC) opened at $33.60 on Wednesday. The firm has a market cap of $1,040.00, a P/E ratio of -8.82 and a beta of 1.62. Revance Therapeutics has a 1-year low of $18.00 and a 1-year high of $37.45.
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 transaction of $189,544.00. Following the sale, the chief executive officer now owns 133,188 shares of the company’s stock, valued at approximately $3,321,708.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Lauren P. Silvernail sold 10,000 shares of Revance Therapeutics stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $26.83, for a total transaction of $268,300.00. Following the sale, the chief financial officer now directly owns 59,006 shares in the company, valued at approximately $1,583,130.98. The disclosure for this sale can be found here. 18.86% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Revance Therapeutics during the 3rd quarter worth $144,000. Legal & General Group Plc boosted its stake in Revance Therapeutics by 8.1% during the 2nd 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 last quarter. Voya Investment Management LLC acquired a new stake in Revance Therapeutics during the 2nd quarter worth $274,000. The Manufacturers Life Insurance Company boosted its stake in Revance Therapeutics by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,304 shares of the biopharmaceutical company’s stock worth $483,000 after purchasing an additional 1,275 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Revance Therapeutics by 1.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 22,904 shares of the biopharmaceutical company’s stock worth $604,000 after purchasing an additional 225 shares during the last quarter. 76.69% of the stock is currently 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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