Revance Therapeutics (NASDAQ:RVNC) Shares Gap Down to $5.36

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) gapped down before the market opened on Tuesday . The stock had previously closed at $5.36, but opened at $5.23. Revance Therapeutics shares last traded at $5.19, with a volume of 23,213 shares traded.

Analyst Upgrades and Downgrades

RVNC has been the topic of several research analyst reports. Piper Sandler cut shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Stifel Nicolaus dropped their price objective on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC lowered shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, StockNews.com initiated coverage on shares of Revance Therapeutics in a research note on Tuesday. They set a “hold” rating on the stock. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Revance Therapeutics currently has a consensus rating of “Hold” and an average price target of $10.50.

Revance Therapeutics Stock Up 0.6 %

The firm’s 50 day simple moving average is $5.51 and its 200 day simple moving average is $4.24. The company has a market cap of $545.22 million, a price-to-earnings ratio of -1.43 and a beta of 1.00.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data 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 company had revenue of $65.39 million for the quarter, compared to analyst estimates of $66.30 million. During the same quarter in the prior year, the business earned ($0.80) EPS. Revance Therapeutics’s revenue was up 20.2% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Certuity LLC bought a new stake in Revance Therapeutics during the second quarter worth approximately $26,000. HighPoint Advisor Group LLC bought a new stake in Revance Therapeutics during the fourth quarter worth approximately $98,000. Clarity Capital Partners LLC bought a new stake in Revance Therapeutics during the first quarter worth approximately $59,000. Vanguard Personalized Indexing Management LLC bought a new stake in Revance Therapeutics during the second quarter worth approximately $33,000. Finally, Hsbc Holdings PLC bought a new stake in Revance Therapeutics during the second quarter worth approximately $38,000. 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.