Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives $10.29 Average PT from Analysts

Revance Therapeutics, Inc. (NASDAQ:RVNC) has received an average recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $10.29.

RVNC has been the topic of a number of analyst reports. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. StockNews.com initiated coverage on Revance Therapeutics in a research report on Thursday. They set a “hold” rating on the stock. Stifel Nicolaus decreased their target price on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Finally, HC Wainwright downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th.

Revance Therapeutics Price Performance

Revance Therapeutics stock opened at $5.29 on Friday. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $9.74. The company has a market cap of $552.54 million, a PE ratio of -1.46 and a beta of 0.98. The stock’s 50 day moving average price is $5.99 and its 200 day moving average price is $4.28.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12. The business had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. During the same quarter last year, the firm earned ($0.80) earnings per share. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts anticipate that Revance Therapeutics will post -1.53 EPS for the current fiscal year.

Institutional Trading of Revance Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in RVNC. HighPoint Advisor Group LLC purchased a new stake in shares of Revance Therapeutics in the fourth quarter valued at $98,000. Los Angeles Capital Management LLC purchased a new stake in shares of Revance Therapeutics in the first quarter valued at $457,000. BNP Paribas Financial Markets lifted its position in shares of Revance Therapeutics by 342.1% in the first quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock valued at $1,042,000 after acquiring an additional 163,809 shares in the last quarter. Clarity Capital Partners LLC acquired a new position in Revance Therapeutics in the first quarter valued at $59,000. Finally, Essex Investment Management Co. LLC increased its stake in Revance Therapeutics by 79.8% in the first quarter. Essex Investment Management Co. LLC now owns 220,160 shares of the biopharmaceutical company’s stock valued at $1,083,000 after purchasing an additional 97,741 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Revance Therapeutics Company Profile

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally. The company’s lead drug candidate is DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed phase II clinical trials to treat upper facial lines, moderate or severe dynamic forehead lines, and moderate or severe lateral canthal lines; and has completed Phase II clinical trials for the treatment of adult upper limb spasticity and plantar fasciitis.