Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives $8.39 Average PT from Analysts

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) have received an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $8.39.

A number of analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Barclays cut their price objective on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research report on Monday, December 23rd. HC Wainwright reaffirmed a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a research report on Friday, November 8th. StockNews.com initiated coverage on Revance Therapeutics in a report on Saturday, December 28th. They set a “hold” rating for the company. Finally, Mizuho decreased their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a report on Tuesday, December 10th.

Revance Therapeutics Stock Up 1.0 %

NASDAQ:RVNC opened at $3.09 on Wednesday. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $8.98. The stock’s 50 day moving average price is $3.91 and its two-hundred day moving average price is $4.48. The firm has a market capitalization of $322.57 million, a price-to-earnings ratio of -1.60 and a beta of 0.81.

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

Hedge Funds Weigh In On Revance Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alpine Associates Management Inc. bought a new position in shares of Revance Therapeutics in the third quarter worth $21,605,000. Stonepine Capital Management LLC increased its holdings in Revance Therapeutics by 41.7% in the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after buying an additional 823,658 shares during the period. State Street Corp raised its position in shares of Revance Therapeutics by 6.6% in the 3rd quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock valued at $12,632,000 after buying an additional 150,323 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Revance Therapeutics in the 3rd quarter valued at approximately $11,648,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Revance Therapeutics by 43.0% during 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 period. 97.70% of the stock is owned by institutional investors and hedge funds.

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.