Brokerages Set Revance Therapeutics, Inc. (NASDAQ:RVNC) Price Target at $8.39

Revance Therapeutics, Inc. (NASDAQ:RVNC) has received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $8.39.

Several analysts have weighed in on the company. HC Wainwright reiterated a “neutral” rating and set a $6.60 price target on shares of Revance Therapeutics in a research note on Friday, November 8th. Mizuho dropped their target price on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. Barclays decreased their price objective on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, December 23rd. Finally, StockNews.com initiated coverage on shares of Revance Therapeutics in a research note on Sunday. They issued a “hold” rating on the stock.

Revance Therapeutics Stock Down 1.7 %

RVNC stock opened at $3.41 on Wednesday. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $7.59. The stock has a market capitalization of $355.97 million, a PE ratio of -1.77 and a beta of 0.86. The firm has a 50 day moving average of $3.86 and a 200 day moving average of $4.51.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $59.88 million for the quarter, compared to analyst estimates of $67.73 million. On average, equities research analysts expect that Revance Therapeutics will post -1.57 earnings per share for the current year.

Institutional Trading of Revance Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RVNC. Bank of New York Mellon Corp raised its position in shares of Revance Therapeutics by 22.5% in the second quarter. Bank of New York Mellon Corp now owns 373,015 shares of the biopharmaceutical company’s stock worth $959,000 after acquiring an additional 68,451 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Revance Therapeutics by 47.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,961 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 10,638 shares in the last quarter. Rhumbline Advisers boosted its position in Revance Therapeutics by 11.6% during the second quarter. Rhumbline Advisers now owns 136,347 shares of the biopharmaceutical company’s stock worth $350,000 after purchasing an additional 14,191 shares in the last quarter. CM Management LLC grew its holdings in Revance Therapeutics by 60.0% in the second quarter. CM Management LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $1,028,000 after purchasing an additional 150,000 shares during the period. Finally, Arizona State Retirement System increased its position in shares of Revance Therapeutics by 27.6% in the second quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 5,996 shares in the last quarter. Institutional investors and hedge funds 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.