Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives $8.39 Average Target Price from Analysts

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $8.39.

A number of research firms have weighed in on RVNC. HC Wainwright reaffirmed a “neutral” rating and set a $6.60 target price on shares of Revance Therapeutics in a research note on Friday, November 8th. StockNews.com assumed coverage on Revance Therapeutics in a research report on Saturday, December 28th. They set a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Barclays lowered their price objective on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, December 23rd. Finally, Mizuho cut their target price on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th.

Revance Therapeutics Stock Up 1.0 %

Revance Therapeutics stock opened at $3.09 on Wednesday. The stock has a market cap of $322.57 million, a PE ratio of -1.60 and a beta of 0.81. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $8.98. The business’s 50-day moving average price is $3.91 and its two-hundred day moving average price is $4.48.

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

Institutional Trading of Revance Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alpine Associates Management Inc. bought a new stake in shares of Revance Therapeutics in the 3rd quarter valued at $21,605,000. Stonepine Capital Management LLC lifted its holdings 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 valued at $7,196,000 after buying an additional 823,658 shares during the period. State Street Corp boosted its position in shares of Revance Therapeutics by 6.6% during the 3rd quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock valued at $12,632,000 after purchasing an additional 150,323 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Revance Therapeutics during the 3rd quarter worth approximately $11,648,000. Finally, Federated Hermes Inc. boosted its stake in Revance Therapeutics by 43.0% during the second 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 in 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.