Shares of Revance Therapeutics Inc (NASDAQ:RVNC) saw strong trading volume on Wednesday after Mizuho raised their price target on the stock from $37.00 to $54.00. Mizuho currently has a buy rating on the stock. 8,136,500 shares changed hands during trading, an increase of 3,627% from the previous session’s volume of 218,301 shares.The stock last traded at $34.75 and had previously closed at $26.00.
A number of other analysts have also recently commented on the stock. Guggenheim assumed coverage on shares of Revance Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $42.00 price objective for the company. Piper Jaffray Companies upped their price objective on shares of Revance Therapeutics from $28.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday. Cantor Fitzgerald set a $50.00 price objective on shares of Revance Therapeutics and gave the company a “buy” rating in a research report on Tuesday. ValuEngine cut shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Barclays assumed coverage on shares of Revance Therapeutics in a research report on Monday, November 27th. They issued an “overweight” rating and a $31.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $40.75.
In related news, CEO L Daniel Browne sold 7,600 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $23.58, for a total value of $179,208.00. Following the completion of the transaction, the chief executive officer now directly owns 148,450 shares of the company’s stock, valued at approximately $3,500,451. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark J. Foley bought 20,000 shares of Revance Therapeutics stock in a transaction that occurred on Tuesday, November 7th. The stock was bought at an average cost of $26.96 per share, with a total value of $539,200.00. Following the completion of the purchase, the director now owns 6,000 shares in the company, valued at approximately $161,760. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 44,026 shares of company stock valued at $1,135,234. Company insiders own 18.86% of the company’s stock.
Several institutional investors have recently bought and sold shares of RVNC. Vanguard Group Inc. boosted its stake in shares of Revance Therapeutics by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 868,118 shares of the biopharmaceutical company’s stock worth $18,056,000 after buying an additional 42,466 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Revance Therapeutics by 16.4% during the 1st quarter. Geode Capital Management LLC now owns 178,435 shares of the biopharmaceutical company’s stock worth $3,711,000 after buying an additional 25,075 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Revance Therapeutics by 4.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 92,490 shares of the biopharmaceutical company’s stock worth $1,924,000 after buying an additional 3,933 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Revance Therapeutics by 29.5% during the 1st quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 1,651 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in shares of Revance Therapeutics by 14.8% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 140,000 shares of the biopharmaceutical company’s stock worth $3,696,000 after buying an additional 18,000 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.
Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.06). Revance Therapeutics had a negative return on equity of 67.85% and a negative net margin of 37,161.00%. The business had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. During the same quarter in the prior year, the company earned ($0.64) earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. equities research analysts forecast that Revance Therapeutics Inc will post -3.73 EPS for the current fiscal year.
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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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