Revance Therapeutics (NASDAQ:RVNC) Announces Quarterly Earnings Results

Revance Therapeutics (NASDAQ:RVNC) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02), reports. The business had revenue of $59.88 million during the quarter, compared to analyst estimates of $67.73 million.

Revance Therapeutics Stock Down 36.0 %

Shares of Revance Therapeutics stock opened at $3.70 on Friday. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $9.74. The business has a 50-day moving average price of $5.66 and a 200-day moving average price of $4.42. The firm has a market cap of $387.85 million, a price-to-earnings ratio of -1.92 and a beta of 0.95.

Analysts Set New Price Targets

RVNC has been the subject of several analyst reports. Stifel Nicolaus reduced their target price on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 9th. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Piper Sandler cut shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Barclays reiterated an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Revance Therapeutics currently has a consensus rating of “Hold” and an average target price of $9.66.

Institutional Investors Weigh In On Revance Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Certuity LLC bought a new stake in Revance Therapeutics in the 2nd quarter worth approximately $26,000. Creative Planning purchased a new position in shares of Revance Therapeutics in the third quarter valued at $56,000. Vanguard Personalized Indexing Management LLC bought a new stake in Revance Therapeutics in the second quarter worth $33,000. Accredited Investors Inc. purchased a new stake in Revance Therapeutics during the third quarter valued at $67,000. Finally, Hsbc Holdings PLC bought a new position in Revance Therapeutics during the second quarter valued at $38,000. 97.70% of the stock is currently 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.