Revance Therapeutics’ (RVNC) “Neutral” Rating Reaffirmed at Guggenheim

Guggenheim reiterated their neutral rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note released on Monday, Marketbeat.com reports.

RVNC has been the subject of several other reports. Needham & Company LLC reiterated a buy rating and issued a $12.00 price target on shares of Revance Therapeutics in a research note on Friday, August 9th. Mizuho cut their target price on Revance Therapeutics from $9.00 to $8.00 and set a neutral rating for the company in a research note on Friday, May 10th. William Blair restated a market perform rating on shares of Revance Therapeutics in a research note on Monday. The Goldman Sachs Group cut their target price 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. Finally, Stifel Nicolaus cut their target price on Revance Therapeutics from $24.00 to $20.00 and set a buy rating for the company in a research note on Friday, August 9th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Revance Therapeutics presently has an average rating of Hold and a consensus price target of $11.89.

Revance Therapeutics Trading Up 0.2 %

Shares of RVNC stock opened at $6.59 on Monday. The stock has a market cap of $688.32 million, a P/E ratio of -1.82 and a beta of 0.98. The stock has a 50 day simple moving average of $3.42 and a 200 day simple moving average of $4.16. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $19.08.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million during the quarter, compared to the consensus estimate of $66.30 million. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.80) earnings per share. Analysts forecast that Revance Therapeutics will post -1.83 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital World Investors increased its holdings in shares of Revance Therapeutics by 16.8% during the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after buying an additional 2,006,459 shares in the last quarter. Vanguard Group Inc. increased its holdings in Revance Therapeutics by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after purchasing an additional 328,781 shares during the period. Federated Hermes Inc. increased its holdings in Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after purchasing an additional 672,803 shares during the period. CIBC Asset Management Inc increased its holdings in Revance Therapeutics by 251.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock valued at $10,085,000 after purchasing an additional 820,587 shares during the period. Finally, Jennison Associates LLC increased its holdings in Revance Therapeutics by 3.5% in the fourth quarter. Jennison Associates LLC now owns 1,032,352 shares of the biopharmaceutical company’s stock valued at $9,074,000 after purchasing an additional 34,736 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.