Revance Therapeutics (NASDAQ:RVNC) Price Target Cut to $20.00

Revance Therapeutics (NASDAQ:RVNC) had its target price decreased by Stifel Nicolaus from $24.00 to $20.00 in a research note issued to investors on Friday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the biopharmaceutical company’s stock.

RVNC has been the topic of several other research reports. Piper Sandler reaffirmed an overweight rating and issued a $11.00 price target (down previously from $20.00) on shares of Revance Therapeutics in a research note on Friday, May 10th. Mizuho decreased their price target on shares of Revance Therapeutics from $9.00 to $8.00 and set a neutral rating for the company in a research note on Friday, May 10th. HC Wainwright dropped their price objective on Revance Therapeutics from $12.00 to $11.00 and set a buy rating on the stock in a research note on Monday, May 13th. Needham & Company LLC reiterated a buy rating and issued a $12.00 target price on shares of Revance Therapeutics in a report on Friday. Finally, The Goldman Sachs Group dropped their price target on Revance Therapeutics from $9.00 to $8.00 and set a neutral rating on the stock in a research report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $11.89.

Revance Therapeutics Stock Performance

NASDAQ RVNC traded up $0.58 during trading on Friday, hitting $3.53. The stock had a trading volume of 5,107,461 shares, compared to its average volume of 1,963,542. Revance Therapeutics has a one year low of $2.30 and a one year high of $20.56. The stock has a 50 day simple moving average of $3.13 and a 200 day simple moving average of $4.12. The stock has a market capitalization of $368.70 million, a price-to-earnings ratio of -0.97 and a beta of 0.98.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. The business had revenue of $65.39 million for the quarter, compared to the consensus estimate of $66.30 million. Revance Therapeutics’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.80) earnings per share. On average, sell-side analysts predict that Revance Therapeutics will post -1.83 EPS for the current year.

Hedge Funds Weigh In On Revance Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of Revance Therapeutics by 16.8% during the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after purchasing an additional 2,006,459 shares during the last quarter. CIBC Asset Management Inc raised its stake in Revance Therapeutics by 251.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock valued at $10,085,000 after buying an additional 820,587 shares during the last quarter. Opaleye Management Inc. acquired a new stake in Revance Therapeutics in the first quarter worth about $3,862,000. Federated Hermes Inc. increased its holdings in shares of Revance Therapeutics by 43.0% during the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after acquiring an additional 672,803 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Revance Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after purchasing an additional 328,781 shares during the last quarter. 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.