Revance Therapeutics (NASDAQ:RVNC) Shares Gap Down to $5.81

Revance Therapeutics, Inc. (NASDAQ:RVNC) shares gapped down before the market opened on Monday . The stock had previously closed at $5.81, but opened at $5.14. Revance Therapeutics shares last traded at $5.22, with a volume of 2,484,278 shares trading hands.

Analyst Ratings Changes

RVNC has been the topic of a number of research reports. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. StockNews.com started coverage on shares of Revance Therapeutics in a research report on Monday. They set a “hold” rating on the stock. HC Wainwright cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Stifel Nicolaus decreased their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Barclays restated an “equal weight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.50.

Revance Therapeutics Stock Down 8.3 %

The stock has a 50 day moving average price of $5.33 and a two-hundred day moving average price of $4.27. The company has a market cap of $556.71 million, a P/E ratio of -1.43 and a beta of 1.00.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results 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 the consensus estimate of $66.30 million. During the same quarter in the previous year, the business posted ($0.80) EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Certuity LLC bought a new position in shares of Revance Therapeutics during the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Revance Therapeutics in the second quarter worth $33,000. Hsbc Holdings PLC purchased a new stake in shares of Revance Therapeutics in the 2nd quarter valued at about $38,000. Nisa Investment Advisors LLC grew its stake 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 worth $49,000 after buying an additional 18,077 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Revance Therapeutics by 52.5% in the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 7,628 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.