Revance Therapeutics, Inc. (NASDAQ:RVNC) Given Average Recommendation of “Hold” by Brokerages

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) have been given an average recommendation of “Hold” by the ten research firms that are covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.50.

Several equities research analysts have commented on the company. StockNews.com assumed coverage on Revance Therapeutics in a research note on Monday. They issued a “hold” rating on the stock. Piper Sandler cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Barclays restated an “equal weight” rating and issued a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, HC Wainwright cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th.

Institutional Investors Weigh In On Revance Therapeutics

A number of large investors have recently added to or reduced their stakes in RVNC. Capital World Investors raised its stake 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 valued at $68,612,000 after acquiring an additional 2,006,459 shares during the period. Stonepine Capital Management LLC raised its stake 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 valued at $7,196,000 after acquiring an additional 823,658 shares during the period. CIBC Asset Management Inc grew 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 valued at $10,085,000 after buying an additional 820,587 shares in the last quarter. Opaleye Management Inc. acquired a new position in Revance Therapeutics in the 1st quarter valued at $3,862,000. Finally, Federated Hermes Inc. grew 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 valued at $5,750,000 after buying an additional 672,803 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $5.81 on Monday. The stock has a 50 day simple moving average of $5.33 and a 200 day simple moving average of $4.27. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $13.12. The firm has a market capitalization of $606.85 million, a PE ratio of -1.60 and a beta of 1.00.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (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 analyst estimates of $66.30 million. During the same quarter in the prior year, the firm posted ($0.80) earnings per share. Revance Therapeutics’s revenue for the quarter was up 20.2% compared to the same quarter last year.

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.