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

Revance Therapeutics, Inc. (NASDAQ:RVNC) has earned a consensus rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $10.29.

A number of analysts have recently issued reports on RVNC shares. HC Wainwright cut shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. StockNews.com began coverage on Revance Therapeutics in a report on Friday. They set a “hold” rating on the stock. Barclays reaffirmed 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. Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating 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.

Revance Therapeutics Trading Up 0.2 %

RVNC opened at $5.30 on Friday. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $9.74. The company has a market cap of $555.55 million, a price-to-earnings ratio of -1.66 and a beta of 0.98. The company’s 50 day moving average is $5.89 and its 200 day moving average is $4.30.

Revance Therapeutics (NASDAQ:RVNC) last released 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 company had revenue of $65.39 million for the quarter, compared to the consensus estimate of $66.30 million. During the same period in the prior year, the firm posted ($0.80) EPS. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, analysts predict that Revance Therapeutics will post -1.53 EPS for the current fiscal year.

Institutional Trading of Revance Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in shares of Revance Therapeutics by 16.8% in the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after buying an additional 2,006,459 shares during the period. Stonepine Capital Management LLC increased its stake in Revance Therapeutics by 41.7% in the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after purchasing an additional 823,658 shares during the period. Opaleye Management Inc. bought a new stake in shares of Revance Therapeutics during the first quarter worth $3,862,000. Federated Hermes Inc. boosted its stake in shares of Revance Therapeutics by 43.0% during the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after purchasing an additional 672,803 shares during the period. Finally, Integral Health Asset Management LLC bought a new position in shares of Revance Therapeutics in the second quarter worth about $1,285,000. 97.70% of the stock is 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.