Revance Therapeutics, Inc. (NASDAQ:RVNC) Short Interest Update

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 7,560,000 shares, a decline of 18.4% from the August 15th total of 9,260,000 shares. Based on an average daily volume of 3,890,000 shares, the short-interest ratio is presently 1.9 days.

Revance Therapeutics Stock Performance

Shares of RVNC stock opened at $6.55 on Monday. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $17.59. The stock’s fifty day moving average is $5.05 and its two-hundred day moving average is $4.29. The firm has a market capitalization of $686.57 million, a P/E ratio of -1.80 and a beta of 1.00.

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, topping the consensus estimate 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 period in the prior year, the business posted ($0.80) earnings per share. The business’s quarterly revenue was up 20.2% on a year-over-year basis.

Institutional Investors Weigh In On Revance Therapeutics

A number of large investors have recently made changes to their positions in RVNC. Quest Partners LLC acquired a new position in Revance Therapeutics during the fourth quarter worth $84,000. Certuity LLC acquired a new position in shares of Revance Therapeutics during the 2nd quarter valued at about $26,000. Victory Capital Management Inc. acquired a new position in shares of Revance Therapeutics during the 4th quarter valued at about $93,000. HighPoint Advisor Group LLC acquired a new stake in Revance Therapeutics during the fourth quarter worth about $98,000. Finally, Clarity Capital Partners LLC purchased a new position in Revance Therapeutics during the first quarter worth about $59,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RVNC shares. Stifel Nicolaus lowered their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barclays restated an “equal weight” rating and set a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a research report on Friday. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. StockNews.com assumed coverage on Revance Therapeutics in a report on Sunday. They issued a “hold” rating on the stock. Finally, HC Wainwright downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.50.

About Revance Therapeutics

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.