Revance Therapeutics (NASDAQ:RVNC) Price Target Cut to $3.10 by Analysts at Mizuho

Revance Therapeutics (NASDAQ:RVNC) had its price target decreased by Mizuho from $6.66 to $3.10 in a research report sent to investors on Tuesday morning,Benzinga reports. Mizuho currently has a neutral rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the stock. HC Wainwright reissued a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Barclays reissued an “equal weight” rating and set a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Finally, William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Revance Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $8.96.

Revance Therapeutics Price Performance

Shares of NASDAQ:RVNC opened at $3.03 on Tuesday. The business’s 50 day simple moving average is $4.69 and its 200 day simple moving average is $4.48. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $9.74. The company has a market capitalization of $317.32 million, a P/E ratio of -1.57 and a beta of 0.82.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $59.88 million during the quarter, compared to the consensus estimate of $67.73 million. On average, sell-side analysts anticipate that Revance Therapeutics will post -1.54 EPS for the current fiscal year.

Institutional Trading of Revance Therapeutics

Hedge funds have recently made changes to their positions in the company. Alpine Associates Management Inc. bought a new position in Revance Therapeutics in the 3rd quarter valued at approximately $21,605,000. Stonepine Capital Management LLC raised its stake in shares of Revance Therapeutics by 41.7% during the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after acquiring an additional 823,658 shares during the last quarter. State Street Corp lifted its holdings in shares of Revance Therapeutics by 6.6% during the third quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock worth $12,632,000 after purchasing an additional 150,323 shares during the period. LMR Partners LLP bought a new stake in shares of Revance Therapeutics in the third quarter worth $11,648,000. Finally, Federated Hermes Inc. increased its holdings in Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after purchasing an additional 672,803 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

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.