Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) have been given an average rating of “Hold” by the nine analysts that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $9.66.

RVNC has been the topic of several research reports. William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. StockNews.com began coverage on shares of Revance Therapeutics in a research report on Monday. They set a “hold” rating for the company. Stifel Nicolaus reduced their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RVNC. Alpine Associates Management Inc. purchased a new stake in Revance Therapeutics during the 3rd quarter worth $21,605,000. LMR Partners LLP purchased a new stake in shares of Revance Therapeutics during the third quarter worth about $11,648,000. Capital World Investors lifted its stake in shares of Revance Therapeutics by 16.8% in the first 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 boosted 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 purchasing an additional 823,658 shares during the last quarter. Finally, Opaleye Management Inc. acquired a new stake in Revance Therapeutics during the 1st quarter valued at approximately $3,862,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Revance Therapeutics Price Performance

Shares of NASDAQ:RVNC opened at $3.99 on Tuesday. The stock’s 50-day moving average price is $5.41 and its two-hundred day moving average price is $4.45. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $67.73 million. Analysts expect that Revance Therapeutics will post -1.54 earnings per share for the current fiscal year.

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.