Revance Therapeutics (NASDAQ:RVNC) Trading Down 3.5%

Revance Therapeutics, Inc. (NASDAQ:RVNC) was down 3.5% during trading on Thursday . The stock traded as low as $5.78 and last traded at $5.78. Approximately 2,104,008 shares changed hands during trading, a decline of 26% from the average daily volume of 2,847,570 shares. The stock had previously closed at $5.99.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RVNC shares. Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Piper Sandler lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Needham & Company LLC lowered shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 13th. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Finally, StockNews.com initiated coverage on shares of Revance Therapeutics in a report on Sunday. They issued a “hold” rating for the company. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Revance Therapeutics presently has an average rating of “Hold” and a consensus target price of $10.50.

Revance Therapeutics Stock Down 2.3 %

The company has a market cap of $611.03 million, a PE ratio of -1.65 and a beta of 1.00. The firm has a 50 day simple moving average of $5.24 and a 200-day simple moving average of $4.29.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12. The company had revenue of $65.39 million during the quarter, compared to analyst estimates of $66.30 million. The company’s revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.80) earnings per share.

Institutional Trading of Revance Therapeutics

Large investors have recently made changes to their positions in the company. Capital World Investors lifted its stake in Revance Therapeutics by 16.8% during the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after acquiring an additional 2,006,459 shares in the last quarter. Stonepine Capital Management LLC grew its stake in Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after buying an additional 823,658 shares during the last quarter. CIBC Asset Management Inc grew its stake in Revance Therapeutics by 251.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock worth $10,085,000 after buying an additional 820,587 shares during the last quarter. Opaleye Management Inc. purchased a new position in Revance Therapeutics during the 1st quarter worth approximately $3,862,000. Finally, Federated Hermes Inc. lifted its position in Revance Therapeutics by 43.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after acquiring an additional 672,803 shares during the period. 97.70% of the stock is currently 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.