Revance Therapeutics (NASDAQ:RVNC) Receives “Neutral” Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note published on Friday,Benzinga reports. The firm currently has a $6.60 price objective on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on RVNC. Piper Sandler cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research report on Monday, October 28th. Stifel Nicolaus dropped their price target 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. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Revance Therapeutics presently has an average rating of “Hold” and a consensus target price of $9.66.

Revance Therapeutics Trading Down 36.0 %

RVNC stock traded down $2.08 during trading on Friday, hitting $3.70. The company had a trading volume of 13,145,829 shares, compared to its average volume of 2,753,991. The stock has a market cap of $387.85 million, a PE ratio of -1.92 and a beta of 0.95. Revance Therapeutics has a one year low of $2.30 and a one year high of $9.74. The business has a 50-day moving average of $5.66 and a 200-day moving average of $4.42.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share 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. During the same period last year, the firm posted ($0.80) earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. Research analysts forecast that Revance Therapeutics will post -1.53 EPS for the current year.

Institutional Trading of Revance Therapeutics

Large investors have recently made changes to their positions in the stock. Capital World Investors boosted its holdings in 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 purchasing an additional 2,006,459 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 buying an additional 328,781 shares during the last quarter. Alpine Associates Management Inc. bought a new stake in shares of Revance Therapeutics in the third quarter worth $21,605,000. Stonepine Capital Management LLC increased its position in Revance Therapeutics by 41.7% during 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 acquiring an additional 823,658 shares during the last quarter. Finally, LMR Partners LLP bought a new position in Revance Therapeutics in the third quarter valued at about $11,648,000. 97.70% of the stock is currently owned by institutional investors.

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.