Piper Jaffray Companies Reaffirms Buy Rating for Revance Therapeutics, Inc. (RVNC)

Piper Jaffray Companies reiterated their buy rating on shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) in a research report sent to investors on Friday morning. They currently have a $28.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts have also recently weighed in on the company. Cantor Fitzgerald initiated coverage on Revance Therapeutics in a report on Thursday, July 20th. They issued an overweight rating and a $50.00 target price on the stock. BidaskClub cut Revance Therapeutics from a buy rating to a hold rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research cut Revance Therapeutics from a buy rating to a hold rating in a report on Thursday, September 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $35.20.

Revance Therapeutics (NASDAQ RVNC) traded up 3.06% during midday trading on Friday, hitting $26.95. The company had a trading volume of 103,082 shares. The stock has a 50 day moving average of $26.04 and a 200 day moving average of $23.83. Revance Therapeutics has a 52-week low of $12.35 and a 52-week high of $28.75. The firm’s market cap is $830.57 million.

Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.93) by $0.03. Revance Therapeutics had a negative return on equity of 55.21% and a negative net margin of 32,936.67%. The firm had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter last year, the firm earned ($0.88) earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts anticipate that Revance Therapeutics will post ($3.61) EPS for the current year.

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In related news, CEO L Daniel Browne sold 22,800 shares of Revance Therapeutics stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $22.76, for a total value of $518,928.00. Following the transaction, the chief executive officer now owns 178,850 shares in the company, valued at $4,070,626. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lauren P. Silvernail sold 11,164 shares of Revance Therapeutics stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $26.67, for a total value of $297,743.88. The disclosure for this sale can be found here. Insiders sold 49,226 shares of company stock worth $1,196,318 in the last quarter. 18.86% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in RVNC. Bank of America Corp DE raised its position in Revance Therapeutics by 29.5% in the first quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 1,651 shares during the period. Legal & General Group Plc raised its position in Revance Therapeutics by 8.1% in the second quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock valued at $152,000 after purchasing an additional 438 shares during the period. Trexquant Investment LP purchased a new position in Revance Therapeutics in the second quarter valued at about $231,000. American International Group Inc. raised its position in Revance Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 834 shares during the period. Finally, Voya Investment Management LLC purchased a new position in Revance Therapeutics in the second quarter valued at about $274,000. 89.39% of the stock is currently owned by institutional investors.

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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