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

Guggenheim reissued their neutral rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a report issued on Monday morning, Marketbeat.com reports.

Other analysts have also recently issued reports about the stock. Mizuho lowered their target price on shares of Revance Therapeutics from $9.00 to $8.00 and set a neutral rating for the company in a research note on Friday, May 10th. HC Wainwright lowered their target price on shares of Revance Therapeutics from $12.00 to $11.00 and set a buy rating for the company in a research note on Monday, May 13th. William Blair reiterated a market perform rating on shares of Revance Therapeutics in a research note on Monday. Stifel Nicolaus lowered their target price on shares of Revance Therapeutics from $24.00 to $20.00 and set a buy rating for the company in a research note on Friday, August 9th. Finally, Needham & Company LLC reiterated a buy rating and issued a $12.00 target price on shares of Revance Therapeutics 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’s stock. According to data from MarketBeat, Revance Therapeutics currently has an average rating of Hold and a consensus price target of $11.89.

Revance Therapeutics Stock Performance

NASDAQ:RVNC opened at $6.59 on Monday. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $19.08. The stock has a market capitalization of $688.32 million, a P/E ratio of -1.82 and a beta of 0.98. The company’s 50-day simple moving average is $3.42 and its 200-day simple moving average is $4.16.

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

Institutional Trading of Revance Therapeutics

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Revance Therapeutics by 29.4% in the second quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 9,601 shares during the last quarter. Daymark Wealth Partners LLC boosted its stake in shares of Revance Therapeutics by 65.2% in the second quarter. Daymark Wealth Partners LLC now owns 76,000 shares of the biopharmaceutical company’s stock worth $195,000 after buying an additional 30,000 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Revance Therapeutics by 567.6% in the second quarter. AQR Capital Management LLC now owns 201,080 shares of the biopharmaceutical company’s stock worth $517,000 after buying an additional 170,960 shares during the last quarter. Integral Health Asset Management LLC purchased a new stake in shares of Revance Therapeutics in the second quarter worth about $1,285,000. Finally, Sei Investments Co. boosted its stake in shares of Revance Therapeutics by 52.5% in the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 7,628 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.