Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives $8.39 Consensus Target Price from Analysts

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) have earned a consensus recommendation of “Hold” from the nine research firms that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $8.39.

A number of brokerages recently commented on RVNC. HC Wainwright reaffirmed a “neutral” rating and issued a $6.60 price target on shares of Revance Therapeutics in a research note on Friday, November 8th. StockNews.com began coverage on shares of Revance Therapeutics in a research report on Sunday. They issued a “hold” rating for the company. Barclays reduced their price target on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, December 23rd. Mizuho lowered their price objective on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th.

Revance Therapeutics Trading Up 1.0 %

Shares of NASDAQ:RVNC opened at $3.09 on Wednesday. The company has a 50-day moving average price of $3.91 and a 200-day moving average price of $4.50. The company has a market cap of $322.57 million, a price-to-earnings ratio of -1.60 and a beta of 0.86. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $8.98.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $59.88 million during the quarter, compared to analyst estimates of $67.73 million. As a group, research analysts forecast that Revance Therapeutics will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

A number of institutional investors have recently made changes to their positions in RVNC. Arizona State Retirement System lifted its stake in Revance Therapeutics by 27.6% during the 2nd quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 5,996 shares during the period. Sei Investments Co. lifted its position in Revance Therapeutics by 52.5% during the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 7,628 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Revance Therapeutics by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 7,890 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Revance Therapeutics by 29.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 9,601 shares during the period. Finally, Certuity LLC purchased a new stake in Revance Therapeutics during the 2nd quarter valued at $26,000. Hedge funds and other institutional investors 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.