Revance Therapeutics Inc. (NASDAQ:RVNC) has received an average recommendation of “Buy” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $46.60.
RVNC has been the subject of several research reports. Goldman Sachs initiated coverage on Revance Therapeutics in a research report on Monday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Piper Jaffray Companies set a $48.00 target price on Revance Therapeutics and gave the stock a “buy” rating in a research report on Thursday, March 1st. Cantor Fitzgerald set a $50.00 target price on Revance Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Mizuho decreased their target price on Revance Therapeutics from $54.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, April 20th. Finally, ValuEngine upgraded Revance Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd.
Shares of Revance Therapeutics traded down $0.50, hitting $30.35, during mid-day trading on Wednesday, according to MarketBeat.com. The stock had a trading volume of 154,584 shares, compared to its average volume of 319,399. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -7.58 and a beta of 1.34. Revance Therapeutics has a fifty-two week low of $19.90 and a fifty-two week high of $37.45.
In related news, CEO L Daniel Browne sold 27,283 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $31.43, for a total value of $857,504.69. Following the sale, the chief executive officer now owns 131,208 shares of the company’s stock, valued at approximately $4,123,867.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Lauren P. Silvernail sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $31.50, for a total value of $315,000.00. Following the completion of the sale, the chief financial officer now directly owns 82,954 shares in the company, valued at approximately $2,613,051. The disclosure for this sale can be found here. In the last three months, insiders sold 98,366 shares of company stock worth $3,182,947. Company insiders own 5.05% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Levin Capital Strategies L.P. bought a new stake in shares of Revance Therapeutics in the 1st quarter worth approximately $277,000. Millennium Management LLC lifted its holdings in shares of Revance Therapeutics by 46.8% in the 1st quarter. Millennium Management LLC now owns 1,494,441 shares of the biopharmaceutical company’s stock worth $46,029,000 after purchasing an additional 476,209 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Revance Therapeutics in the 1st quarter worth approximately $233,000. Cubist Systematic Strategies LLC bought a new stake in shares of Revance Therapeutics in the 1st quarter worth approximately $189,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Revance Therapeutics by 13.4% in the 1st quarter. California State Teachers Retirement System now owns 40,990 shares of the biopharmaceutical company’s stock worth $1,262,000 after purchasing an additional 4,858 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors and hedge funds.
About Revance Therapeutics
Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.
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