Revance Therapeutics, Inc. (NASDAQ:RVNC) Given Consensus Rating of “Moderate Buy” by Brokerages

Revance Therapeutics, Inc. (NASDAQ:RVNC) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $11.50.

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

Institutional Investors Weigh In On Revance Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RVNC. Capital World Investors grew its holdings in Revance Therapeutics by 16.8% during the 1st 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 during the period. Vanguard Group Inc. boosted its position in shares of Revance Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after purchasing an additional 328,781 shares during the last quarter. Invesco Ltd. grew its stake in shares of Revance Therapeutics by 66.0% during the third quarter. Invesco Ltd. now owns 2,902,440 shares of the biopharmaceutical company’s stock worth $33,291,000 after purchasing an additional 1,153,615 shares during the period. Rubric Capital Management LP bought a new stake in Revance Therapeutics in the third quarter valued at about $18,352,000. Finally, CIBC Asset Management Inc lifted its stake 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 buying an additional 820,587 shares during the period. 97.70% of the stock is owned by institutional investors.

Revance Therapeutics Price Performance

Shares of RVNC stock opened at $2.66 on Friday. The stock’s fifty day simple moving average is $3.27 and its 200 day simple moving average is $5.19. Revance Therapeutics has a one year low of $2.57 and a one year high of $28.43. The firm has a market cap of $277.84 million, a price-to-earnings ratio of -0.73 and a beta of 1.05.

Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.12. The firm had revenue of $51.94 million during the quarter, compared to analyst estimates of $55.64 million. On average, research analysts anticipate that Revance Therapeutics will post -1.83 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.