Barclays Has Lowered Expectations for Revance Therapeutics (NASDAQ:RVNC) Stock Price

Revance Therapeutics (NASDAQ:RVNC) had its target price decreased by equities research analysts at Barclays from $7.00 to $3.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays‘s target price indicates a potential downside of 2.60% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. StockNews.com started coverage on Revance Therapeutics in a research note on Friday, December 20th. They issued a “hold” rating on the stock. Mizuho lowered their price target on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Price Performance

Revance Therapeutics stock opened at $3.08 on Monday. The firm has a market cap of $321.52 million, a PE ratio of -1.60 and a beta of 0.82. The stock’s fifty day moving average price is $4.30 and its two-hundred day moving average price is $4.49. Revance Therapeutics has a one year low of $2.30 and a one year high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $67.73 million. Sell-side analysts expect that Revance Therapeutics will post -1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake in shares of Revance Therapeutics by 2,167.5% during the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 18,077 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Revance Therapeutics by 22.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 373,015 shares of the biopharmaceutical company’s stock valued at $959,000 after buying an additional 68,451 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Revance Therapeutics by 47.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,961 shares of the biopharmaceutical company’s stock valued at $85,000 after buying an additional 10,638 shares during the last quarter. Rhumbline Advisers boosted its position in Revance Therapeutics by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 136,347 shares of the biopharmaceutical company’s stock worth $350,000 after buying an additional 14,191 shares during the period. Finally, CM Management LLC grew its holdings in Revance Therapeutics by 60.0% during the 2nd quarter. CM Management LLC now owns 400,000 shares of the biopharmaceutical company’s stock worth $1,028,000 after acquiring an additional 150,000 shares during the last quarter. Institutional investors and hedge funds 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.