Revance Therapeutics (NASDAQ:RVNC) Trading Down 3.8% – Should You Sell?

Revance Therapeutics, Inc. (NASDAQ:RVNC)’s stock price traded down 3.8% during trading on Friday . The company traded as low as $5.10 and last traded at $5.10. Approximately 144,012 shares traded hands during trading, a decline of 95% from the average daily volume of 2,718,616 shares. The stock had previously closed at $5.30.

Wall Street Analysts Forecast Growth

RVNC has been the subject of a number of research analyst reports. Needham & Company LLC downgraded shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. StockNews.com assumed coverage on shares of Revance Therapeutics in a research report on Friday. They set a “hold” rating for the company. Barclays restated an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Finally, William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.29.

Revance Therapeutics Trading Down 11.3 %

The stock’s 50 day moving average is $5.85 and its two-hundred day moving average is $4.30. The stock has a market capitalization of $492.65 million, a price-to-earnings ratio of -1.47 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12. The firm had revenue of $65.39 million during the quarter, compared to the consensus estimate of $66.30 million. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.80) earnings per share. On average, research analysts anticipate that Revance Therapeutics, Inc. will post -1.53 earnings per share for the current year.

Hedge Funds Weigh In On Revance Therapeutics

Large investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of 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 valued at $105,000 after purchasing an additional 7,890 shares during the last quarter. Creative Planning acquired a new stake in Revance Therapeutics in the 3rd quarter valued at $56,000. SG Americas Securities LLC bought a new stake in Revance Therapeutics during the 3rd quarter worth about $399,000. Stonepine Capital Management LLC boosted its stake in shares of Revance Therapeutics by 41.7% during the 2nd 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 during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of 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 valued at $109,000 after acquiring an additional 9,601 shares in the last quarter. Institutional investors and hedge funds 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.