Revance Therapeutics, Inc. (NASDAQ:RVNC) Given Consensus Recommendation of “Hold” by Brokerages

Revance Therapeutics, Inc. (NASDAQ:RVNC) has received a consensus rating of “Hold” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $10.88.

A number of research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Revance Therapeutics in a research note on Friday. They issued a “hold” rating on the stock. Needham & Company LLC lowered Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 13th. Mizuho lowered their target price 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. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of RVNC. Capital World Investors grew its stake in Revance Therapeutics by 16.8% during the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after acquiring an additional 2,006,459 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Revance Therapeutics by 342.1% in the first quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock worth $1,042,000 after purchasing an additional 163,809 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Revance Therapeutics in the fourth quarter worth $93,000. Vanguard Group Inc. boosted its stake in Revance Therapeutics by 6.5% during the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after buying an additional 328,781 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Revance Therapeutics by 2.1% during the fourth 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 during the period. 97.70% of the stock is currently owned by institutional investors.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $6.57 on Thursday. The stock has a 50 day moving average of $4.25 and a 200 day moving average of $4.22. The company has a market capitalization of $686.23 million, a price-to-earnings ratio of -1.81 and a beta of 0.98. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $18.34.

Revance Therapeutics (NASDAQ:RVNC) last announced its 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 business had revenue of $65.39 million for the quarter, compared to analysts’ expectations of $66.30 million. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.80) earnings per share. As a group, equities research analysts predict that Revance Therapeutics will post -1.57 earnings per share 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.