Cantor Fitzgerald restated their buy rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a report published on Thursday. The firm currently has a $50.00 price objective on the biopharmaceutical company’s stock.
“. Post a solid quarter of execution in 3Q18, we reiterate our OW rating and 12-month price target of $50 on shares of RVNC. We expect upward earnings revisions to levels not reflected in sell-side consensus expectations to drive the stock higher. RVNC’s long-duration, next-generation injectable neuromodulator may be a pipeline in a product. RT002 targets a $3B+ market opportunity for both medical and aesthetic indications.”,” Cantor Fitzgerald’s analyst commented.
A number of other research analysts have also weighed in on RVNC. BidaskClub lowered Revance Therapeutics from a hold rating to a sell rating in a research report on Friday, July 20th. Zacks Investment Research upgraded Revance Therapeutics from a hold rating to a buy rating and set a $33.00 price objective for the company in a research report on Wednesday, July 11th. ValuEngine lowered Revance Therapeutics from a buy rating to a hold rating in a research report on Thursday, September 27th. Finally, Piper Jaffray Companies restated a buy rating on shares of Revance Therapeutics in a research report on Monday, September 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $47.10.
RVNC stock traded down $0.31 during trading on Thursday, reaching $24.57. The company’s stock had a trading volume of 945 shares, compared to its average volume of 197,226. Revance Therapeutics has a 1 year low of $21.45 and a 1 year high of $37.45. The firm has a market capitalization of $919.02 million, a PE ratio of -6.05 and a beta of 1.35.
Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.04. Revance Therapeutics had a negative return on equity of 57.81% and a negative net margin of 4,205.52%. The business had revenue of $2.36 million during the quarter, compared to analyst estimates of $0.49 million. Equities analysts anticipate that Revance Therapeutics will post -3.9 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in shares of Revance Therapeutics in the 1st quarter valued at about $189,000. Xact Kapitalforvaltning AB bought a new position in shares of Revance Therapeutics in the 2nd quarter valued at about $209,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Revance Therapeutics by 25.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock valued at $299,000 after acquiring an additional 2,232 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Revance Therapeutics by 19.6% in the 2nd quarter. Voya Investment Management LLC now owns 12,433 shares of the biopharmaceutical company’s stock valued at $341,000 after acquiring an additional 2,041 shares during the last quarter. Finally, Nottingham Advisors Inc. lifted its holdings in shares of Revance Therapeutics by 17.7% in the 2nd quarter. Nottingham Advisors Inc. now owns 13,312 shares of the biopharmaceutical company’s stock valued at $365,000 after acquiring an additional 2,000 shares during the last quarter. 94.42% of the stock is owned by hedge funds and other institutional investors.
Revance Therapeutics Company Profile
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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