Revance Therapeutics (NASDAQ:RVNC) Shares Gap Down to $5.36

Revance Therapeutics, Inc. (NASDAQ:RVNC)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $5.36, but opened at $5.23. Revance Therapeutics shares last traded at $5.19, with a volume of 23,213 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RVNC shares. Stifel Nicolaus decreased their price objective on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Barclays reissued an “equal weight” rating and set a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. HC Wainwright lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Needham & Company LLC lowered shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, StockNews.com initiated coverage on shares of Revance Therapeutics in a research note on Tuesday. They set a “hold” rating for the company. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.50.

Revance Therapeutics Trading Up 0.6 %

The firm has a market cap of $545.22 million, a P/E ratio of -1.43 and a beta of 1.00. The business’s fifty day moving average price is $5.51 and its two-hundred day moving average price is $4.24.

Revance Therapeutics (NASDAQ:RVNC) last released 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 for the quarter, compared to the consensus estimate of $66.30 million. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.80) EPS.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Capital World Investors raised its holdings in Revance Therapeutics by 16.8% in the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after acquiring an additional 2,006,459 shares during the period. Vanguard Group Inc. raised its holdings in Revance Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after acquiring an additional 328,781 shares during the period. Stonepine Capital Management LLC raised its holdings in Revance Therapeutics by 41.7% in the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after acquiring an additional 823,658 shares during the period. Federated Hermes Inc. raised its holdings in Revance Therapeutics by 43.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after acquiring an additional 672,803 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Revance Therapeutics by 251.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock worth $10,085,000 after acquiring an additional 820,587 shares during the period. Institutional investors own 97.70% of the company’s stock.

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.