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

Revance Therapeutics (NASDAQ:RVNC)‘s stock had its “neutral” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $6.60 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 76.94% from the stock’s current price.

A number of other equities research analysts have also weighed in on RVNC. Barclays reissued an “equal weight” rating and issued a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research report on Monday, October 28th. Stifel Nicolaus lowered their price target on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 9th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Finally, Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.66.

Revance Therapeutics Stock Down 35.5 %

Revance Therapeutics stock traded down $2.05 during mid-day trading on Friday, reaching $3.73. 6,782,423 shares of the company’s stock were exchanged, compared to its average volume of 2,722,307. The business’s fifty day simple moving average is $5.72 and its 200 day simple moving average is $4.42. The firm has a market capitalization of $390.98 million, a PE ratio of -1.17 and a beta of 0.95. Revance Therapeutics has a one year low of $2.30 and a one year high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the firm earned ($0.80) earnings per share. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, sell-side analysts forecast that Revance Therapeutics will post -1.53 earnings per share for the current year.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Certuity LLC purchased a new stake in Revance Therapeutics during the 2nd quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC purchased a new position in Revance Therapeutics in the 2nd quarter valued at approximately $33,000. Hsbc Holdings PLC purchased a new position in Revance Therapeutics in the 2nd quarter valued at approximately $38,000. Nisa Investment Advisors LLC boosted its position in Revance Therapeutics by 2,167.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 18,077 shares during the period. Finally, Creative Planning purchased a new position in Revance Therapeutics in the 3rd quarter valued at approximately $56,000. 97.70% of the stock is owned by hedge funds and other 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.