Revance Therapeutics Inc. (NASDAQ:RVNC) has been given a consensus rating of “Buy” by the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $46.60.
RVNC has been the topic of several recent analyst reports. Cantor Fitzgerald set a $50.00 target price on shares of Revance Therapeutics and gave the company a “buy” rating in a research note on Thursday, January 4th. Guggenheim reissued a “neutral” rating and issued a $42.00 target price on shares of Revance Therapeutics in a research note on Thursday, January 4th. Mizuho reaffirmed a “buy” rating and issued a $54.00 price target on shares of Revance Therapeutics in a research note on Friday, January 5th. Cowen set a $55.00 price target on shares of Revance Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, ValuEngine raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd.
Shares of RVNC traded down $0.70 during midday trading on Friday, hitting $27.65. The stock had a trading volume of 399,445 shares, compared to its average volume of 332,766. Revance Therapeutics has a 1 year low of $18.42 and a 1 year high of $37.45. The company has a market cap of $1,081.78, a P/E ratio of -7.07 and a beta of 1.33.
In related news, CFO Lauren P. Silvernail sold 3,431 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $30.85, for a total value of $105,846.35. Following the transaction, the chief financial officer now owns 68,371 shares of the company’s stock, valued at approximately $2,109,245.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO L Daniel Browne sold 27,283 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $31.43, for a total transaction of $857,504.69. Following the completion of the transaction, the chief executive officer now directly owns 131,208 shares in the company, valued at approximately $4,123,867.44. The disclosure for this sale can be found here. Insiders sold a total of 98,366 shares of company stock worth $3,182,947 in the last ninety days. 18.86% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of RVNC. Alliancebernstein L.P. increased its position in Revance Therapeutics by 4,063.7% during the 4th quarter. Alliancebernstein L.P. now owns 907,695 shares of the biopharmaceutical company’s stock valued at $32,450,000 after purchasing an additional 885,895 shares during the period. Jennison Associates LLC increased its position in Revance Therapeutics by 127.1% during the 4th quarter. Jennison Associates LLC now owns 857,536 shares of the biopharmaceutical company’s stock valued at $30,657,000 after purchasing an additional 480,008 shares during the period. Perceptive Advisors LLC purchased a new position in Revance Therapeutics during the 4th quarter valued at about $14,300,000. Senzar Asset Management LLC purchased a new position in Revance Therapeutics during the 4th quarter valued at about $8,450,000. Finally, Bank of New York Mellon Corp increased its position in Revance Therapeutics by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,144,669 shares of the biopharmaceutical company’s stock valued at $76,672,000 after purchasing an additional 135,356 shares during the period. 95.06% 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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