Revance Therapeutics’ (RVNC) Equal Weight Rating Reaffirmed at Barclays

Barclays reaffirmed their equal weight rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a report published on Friday, Benzinga reports. The firm currently has a $7.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $10.00.

Several other equities research analysts have also commented on RVNC. Needham & Company LLC lowered Revance Therapeutics from a moderate buy rating to a hold rating in a research report on Tuesday, August 13th. HC Wainwright lowered shares of Revance Therapeutics from a strong-buy rating to a hold rating in a research report on Tuesday, August 13th. StockNews.com initiated coverage on shares of Revance Therapeutics in a report on Saturday, September 7th. They issued a hold rating for the company. Stifel Nicolaus lowered their target price on shares of Revance Therapeutics from $24.00 to $20.00 and set a buy rating on the stock in a research note on Friday, August 9th. Finally, Piper Sandler lowered Revance Therapeutics from a strong-buy rating to a hold rating in a research note on Monday, August 12th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Revance Therapeutics currently has an average rating of Hold and a consensus target price of $10.50.

Revance Therapeutics Price Performance

RVNC stock opened at $6.55 on Friday. The firm’s fifty day simple moving average is $5.05 and its 200-day simple moving average is $4.29. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $17.59. The company 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) EPS for the quarter, beating 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. Revance Therapeutics’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.80) earnings per share.

Institutional Trading of Revance Therapeutics

Large investors have recently made changes to their positions in the company. Certuity LLC purchased a new position in Revance Therapeutics in the 2nd quarter valued at $26,000. Vanguard Personalized Indexing Management LLC acquired a new position in Revance Therapeutics during the second quarter worth about $33,000. Hsbc Holdings PLC purchased a new stake in Revance Therapeutics during the 2nd quarter valued at about $38,000. Nisa Investment Advisors LLC raised its holdings in Revance Therapeutics by 2,167.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 18,077 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Revance Therapeutics by 52.5% in the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 7,628 shares in 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.