Analysts Set Revance Therapeutics, Inc. (NASDAQ:RVNC) PT at $11.50

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) have earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $11.50.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in Revance Therapeutics by 16.8% in the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after buying an additional 2,006,459 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Revance Therapeutics by 342.1% in the 1st quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock valued at $1,042,000 after buying an additional 163,809 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Revance Therapeutics in the 4th quarter valued at $93,000. Vanguard Group Inc. grew its holdings in Revance Therapeutics by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,791,459 shares of the biopharmaceutical company’s stock valued at $54,958,000 after buying an additional 138,683 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Revance Therapeutics by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,364 shares of the biopharmaceutical company’s stock valued at $5,954,000 after buying an additional 13,826 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Revance Therapeutics Stock Performance

NASDAQ RVNC opened at $2.95 on Friday. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $22.45. The stock has a market capitalization of $308.12 million, a price-to-earnings ratio of -0.81 and a beta of 0.98. The stock’s 50 day moving average price is $3.11 and its two-hundred day moving average price is $4.16.

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

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.