Revance Therapeutics (NASDAQ:RVNC) Shares Gap Down to $5.81

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) gapped down prior to trading on Monday . The stock had previously closed at $5.81, but opened at $5.14. Revance Therapeutics shares last traded at $5.22, with a volume of 2,484,278 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RVNC shares. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Needham & Company LLC downgraded shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 13th. StockNews.com began coverage on Revance Therapeutics in a research note on Monday. They set a “hold” rating for the company. Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.50.

Revance Therapeutics Trading Down 8.3 %

The company has a market capitalization of $556.71 million, a PE ratio of -1.43 and a beta of 1.00. The company has a fifty day simple moving average of $5.33 and a 200-day simple moving average of $4.27.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.12. The firm had revenue of $65.39 million for the quarter, compared to analysts’ expectations of $66.30 million. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.80) earnings per share.

Institutional Investors Weigh In On Revance Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors grew its position in shares of Revance Therapeutics by 16.8% in the first 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. BNP Paribas Financial Markets grew its position in shares of Revance Therapeutics by 342.1% during the first quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock worth $1,042,000 after buying an additional 163,809 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Revance Therapeutics during the 4th quarter worth $93,000. Vanguard Group Inc. increased its holdings in Revance Therapeutics by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after buying an additional 328,781 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Revance Therapeutics by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,364 shares of the biopharmaceutical company’s stock valued at $5,954,000 after acquiring an additional 13,826 shares in the last quarter. 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.