Brokerages Set Revance Therapeutics, Inc. (NASDAQ:RVNC) Price Target at $9.66

Revance Therapeutics, Inc. (NASDAQ:RVNC) has been assigned a consensus recommendation of “Hold” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $9.66.

Several equities analysts recently issued reports on the stock. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. Barclays restated an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Finally, Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th.

Revance Therapeutics Stock Performance

NASDAQ RVNC opened at $4.31 on Tuesday. The firm has a market capitalization of $452.12 million, a P/E ratio of -2.24 and a beta of 0.95. The stock has a 50-day simple moving average of $5.50 and a two-hundred day simple moving average of $4.43. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The company had revenue of $59.88 million during the quarter, compared to the consensus estimate of $67.73 million. As a group, analysts forecast that Revance Therapeutics will post -1.54 earnings per share for the current year.

Hedge Funds Weigh In On Revance Therapeutics

Hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Revance Therapeutics by 11.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,210 shares of the biopharmaceutical company’s stock worth $1,376,000 after purchasing an additional 27,420 shares in the last quarter. FORA Capital LLC acquired a new stake in Revance Therapeutics during the 3rd quarter worth $54,000. FMR LLC grew its holdings in shares of Revance Therapeutics by 28.6% during the third quarter. FMR LLC now owns 214,596 shares of the biopharmaceutical company’s stock worth $1,114,000 after buying an additional 47,768 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Revance Therapeutics in the third quarter valued at about $88,000. Finally, Algert Global LLC raised its position in shares of Revance Therapeutics by 1,167.3% in the third quarter. Algert Global LLC now owns 126,730 shares of the biopharmaceutical company’s stock valued at $658,000 after buying an additional 116,730 shares during 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.