Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives $11.50 Consensus Price Target from Analysts

Revance Therapeutics, Inc. (NASDAQ:RVNC) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $11.50.

Several research firms have recently issued reports on RVNC. Needham & Company LLC reduced their price target on Revance Therapeutics from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. The Goldman Sachs Group lowered their price target on Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Piper Sandler restated an “overweight” rating and set a $11.00 price objective (down previously from $20.00) on shares of Revance Therapeutics in a report on Friday, May 10th. HC Wainwright cut their target price on shares of Revance Therapeutics from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Finally, Mizuho decreased their price target on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 10th.

Institutional Trading of Revance Therapeutics

A number of institutional investors have recently modified their holdings of RVNC. Wellington Management Group LLP raised its position in Revance Therapeutics by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,082,420 shares of the biopharmaceutical company’s stock valued at $12,415,000 after buying an additional 37,131 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Revance Therapeutics by 47.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 40,431 shares of the biopharmaceutical company’s stock worth $464,000 after acquiring an additional 13,047 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Revance Therapeutics by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,791,459 shares of the biopharmaceutical company’s stock worth $54,958,000 after acquiring an additional 138,683 shares in the last quarter. DNB Asset Management AS grew its stake in shares of Revance Therapeutics by 44.7% during the 4th quarter. DNB Asset Management AS now owns 34,652 shares of the biopharmaceutical company’s stock worth $305,000 after acquiring an additional 10,706 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Revance Therapeutics by 35.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 55,422 shares of the biopharmaceutical company’s stock worth $487,000 after purchasing an additional 14,423 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Revance Therapeutics Trading Up 9.5 %

Revance Therapeutics stock opened at $3.58 on Wednesday. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $24.87. The company’s 50-day moving average is $2.98 and its two-hundred day moving average is $4.66. The company has a market cap of $373.93 million, a PE ratio of -0.99 and a beta of 0.98.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.12. The business had revenue of $51.94 million during the quarter, compared to analyst estimates of $55.64 million. Research analysts forecast that Revance Therapeutics will post -1.83 EPS for the current 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.