Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives $11.50 Average Target Price from Analysts

Revance Therapeutics, Inc. (NASDAQ:RVNC) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $11.50.

A number of brokerages have recently commented on RVNC. HC Wainwright lowered their price target on shares of Revance Therapeutics from $12.00 to $11.00 and set a “buy” rating for the company in a report on Monday, May 13th. Needham & Company LLC lowered their price target on shares of Revance Therapeutics from $18.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 10th. The Goldman Sachs Group lowered their price target on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Piper Sandler reiterated an “overweight” rating and set a $11.00 price target (down from $20.00) on shares of Revance Therapeutics in a report on Friday, May 10th. Finally, Mizuho decreased their target price on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th.

Revance Therapeutics Stock Performance

RVNC opened at $2.95 on Friday. The business’s fifty day moving average is $3.11 and its two-hundred day moving average is $4.16. The company has a market cap of $308.12 million, a price-to-earnings ratio of -0.81 and a beta of 0.98. Revance Therapeutics has a one year low of $2.30 and a one year high of $22.45.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.12. The company had revenue of $51.94 million during the quarter, compared to analysts’ expectations of $55.64 million. On average, analysts predict that Revance Therapeutics will post -1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Revance Therapeutics by 3.0% in the third quarter. Vanguard Group Inc. now owns 4,791,459 shares of the biopharmaceutical company’s stock worth $54,958,000 after buying an additional 138,683 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Revance Therapeutics by 351.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,155 shares of the biopharmaceutical company’s stock worth $89,000 after buying an additional 7,905 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Revance Therapeutics by 111.9% in the fourth quarter. Federated Hermes Inc. now owns 82,177 shares of the biopharmaceutical company’s stock worth $722,000 after buying an additional 43,389 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Revance Therapeutics by 54.1% in the fourth quarter. Handelsbanken Fonder AB now owns 20,800 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 7,300 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Revance Therapeutics by 3.5% in the fourth quarter. Jennison Associates LLC now owns 1,032,352 shares of the biopharmaceutical company’s stock worth $9,074,000 after buying an additional 34,736 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.