Analysts Set Revance Therapeutics, Inc. (NASDAQ:RVNC) PT at $10.50

Revance Therapeutics, Inc. (NASDAQ:RVNC) has been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.50.

Several equities research analysts have issued reports on RVNC shares. Stifel Nicolaus dropped their target price on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. StockNews.com assumed coverage on Revance Therapeutics in a report on Monday, September 23rd. They set a “hold” rating on the stock. Piper Sandler cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. HC Wainwright downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th.

Hedge Funds Weigh In On Revance Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Certuity LLC purchased a new position in shares of Revance Therapeutics in the 2nd quarter worth about $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in Revance Therapeutics in the 2nd quarter worth approximately $33,000. Hsbc Holdings PLC bought a new position in Revance Therapeutics during the second quarter valued at approximately $38,000. Nisa Investment Advisors LLC raised its stake in shares of Revance Therapeutics by 2,167.5% during the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 18,077 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Revance Therapeutics by 52.5% in the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 7,628 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $5.36 on Monday. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $12.07. The business has a 50-day moving average of $5.45 and a 200 day moving average of $4.28. The firm has a market cap of $561.84 million, a P/E ratio of -1.48 and a beta of 1.00.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.12. The business had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. Revance Therapeutics’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.80) EPS.

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.