Revance Therapeutics (NASDAQ:RVNC) Shares Down 3.5%

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) traded down 3.5% during trading on Thursday . The stock traded as low as $5.78 and last traded at $5.78. 2,104,008 shares changed hands during trading, a decline of 26% from the average session volume of 2,847,570 shares. The stock had previously closed at $5.99.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays reiterated an “equal weight” rating and set a $7.00 price objective (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Stifel Nicolaus dropped their target price on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. HC Wainwright downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.50.

Revance Therapeutics Stock Down 0.7 %

The business’s 50-day moving average is $5.33 and its 200-day moving average is $4.30. The company has a market capitalization of $609.00 million, a price-to-earnings ratio of -1.60 and a beta of 1.00.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings data 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 company had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.80) EPS.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds have recently modified their holdings of RVNC. Capital World Investors boosted its position in Revance Therapeutics by 16.8% during the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after purchasing an additional 2,006,459 shares in the last quarter. Vanguard Group Inc. raised its position in Revance Therapeutics by 6.5% during the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after acquiring an additional 328,781 shares during the period. Stonepine Capital Management LLC lifted its holdings in Revance Therapeutics by 41.7% during the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after purchasing an additional 823,658 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after purchasing an additional 672,803 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of 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 worth $10,085,000 after purchasing an additional 820,587 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.