Barclays Issues Pessimistic Forecast for Revance Therapeutics (NASDAQ:RVNC) Stock Price

Revance Therapeutics (NASDAQ:RVNC) had its target price reduced by research analysts at Barclays from $7.00 to $3.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays‘s price target suggests a potential downside of 2.60% from the company’s current price.

A number of other brokerages have also commented on RVNC. Mizuho decreased their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. HC Wainwright reiterated a “neutral” rating and issued a $6.60 price target on shares of Revance Therapeutics in a report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th. Finally, StockNews.com began coverage on shares of Revance Therapeutics in a research note on Friday, December 20th. They issued a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.39.

Revance Therapeutics Trading Up 0.3 %

Shares of Revance Therapeutics stock opened at $3.08 on Monday. The stock has a market capitalization of $321.52 million, a price-to-earnings ratio of -1.60 and a beta of 0.82. The firm’s 50-day moving average price is $4.30 and its two-hundred day moving average price is $4.49. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million during the quarter, compared to analyst estimates of $67.73 million. As a group, equities research analysts predict that Revance Therapeutics will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in shares of Revance Therapeutics by 2,167.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 18,077 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Revance Therapeutics by 22.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 373,015 shares of the biopharmaceutical company’s stock worth $959,000 after buying an additional 68,451 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Revance Therapeutics by 47.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,961 shares of the biopharmaceutical company’s stock valued at $85,000 after buying an additional 10,638 shares during the last quarter. Rhumbline Advisers raised its holdings in Revance Therapeutics by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 136,347 shares of the biopharmaceutical company’s stock valued at $350,000 after acquiring an additional 14,191 shares during the period. Finally, CM Management LLC boosted its holdings in shares of Revance Therapeutics by 60.0% during the second quarter. CM Management LLC now owns 400,000 shares of the biopharmaceutical company’s stock worth $1,028,000 after acquiring an additional 150,000 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.