Revance Therapeutics (NASDAQ:RVNC) Stock Price Down 4.6% – What’s Next?

Revance Therapeutics, Inc. (NASDAQ:RVNC) fell 4.6% on Friday . The company traded as low as $5.01 and last traded at $5.02. 366,818 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 2,843,842 shares. The stock had previously closed at $5.26.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Needham & Company LLC downgraded Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Stifel Nicolaus cut 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. HC Wainwright cut shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. 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

The stock has a market capitalization of $542.97 million, a P/E ratio of -1.45 and a beta of 1.00. The stock has a 50 day moving average price of $5.58 and a 200-day moving average price of $4.25.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million for the quarter, compared to the consensus estimate of $66.30 million. During the same quarter in the previous year, the business earned ($0.80) earnings per share. Revance Therapeutics’s revenue was up 20.2% compared to the same quarter last year. Research analysts predict that Revance Therapeutics, Inc. will post -1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Nebula Research & Development LLC bought a new position in Revance Therapeutics in the fourth quarter worth about $926,000. Sierra Summit Advisors LLC purchased a new position in Revance Therapeutics during the fourth quarter valued at $760,000. HighPoint Advisor Group LLC bought a new stake in shares of Revance Therapeutics during the 4th quarter valued at $98,000. Los Angeles Capital Management LLC purchased a new stake in shares of Revance Therapeutics in the 1st quarter worth about $457,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Revance Therapeutics by 67.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,981 shares of the biopharmaceutical company’s stock worth $84,000 after buying an additional 6,826 shares during the period. Hedge funds and other 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.