Revance Therapeutics (NASDAQ:RVNC) Sees Strong Trading Volume

Revance Therapeutics, Inc. (NASDAQ:RVNC) shares saw an uptick in trading volume on Wednesday . 1,885,882 shares traded hands during mid-day trading, a decline of 27% from the previous session’s volume of 2,589,830 shares.The stock last traded at $6.58 and had previously closed at $6.59.

Analyst Ratings Changes

Several research firms have weighed in on RVNC. Needham & Company LLC downgraded shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 13th. Stifel Nicolaus dropped their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. HC Wainwright downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Mizuho cut their target price on Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.88.

Revance Therapeutics Stock Down 0.2 %

The stock has a 50-day moving average of $4.50 and a 200 day moving average of $4.25. The company has a market capitalization of $688.67 million, a PE ratio of -1.81 and a beta of 0.99.

Revance Therapeutics (NASDAQ:RVNC) last announced 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 business had revenue of $65.39 million for the quarter, compared to analysts’ expectations of $66.30 million. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.80) earnings per share. Equities analysts forecast that Revance Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

Large investors have recently modified their holdings of the stock. Capital World Investors raised its stake in Revance Therapeutics by 16.8% in the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after acquiring an additional 2,006,459 shares during the period. Stonepine Capital Management LLC raised its position in shares of Revance Therapeutics by 41.7% in the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after buying an additional 823,658 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Revance Therapeutics by 251.2% during 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 period. Opaleye Management Inc. purchased a new position in Revance Therapeutics during the first quarter worth about $3,862,000. Finally, Federated Hermes Inc. increased its stake in Revance Therapeutics by 43.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after acquiring an additional 672,803 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.