Revance Therapeutics (NASDAQ:RVNC) Receives “Neutral” Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note released on Friday morning,Benzinga reports. HC Wainwright currently has a $6.60 price objective on the biopharmaceutical company’s stock.

RVNC has been the subject of several other research reports. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a report on Monday, October 28th. Barclays reiterated 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. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Piper Sandler cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Finally, William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.66.

Revance Therapeutics Stock Performance

Shares of Revance Therapeutics stock traded down $2.08 on Friday, hitting $3.70. 13,145,829 shares of the company traded hands, compared to its average volume of 2,753,991. The business has a 50-day simple moving average of $5.66 and a 200 day simple moving average of $4.42. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $9.74. The stock has a market capitalization of $387.85 million, a P/E ratio of -1.92 and a beta of 0.95.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results 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 quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.80) EPS. Research analysts expect that Revance Therapeutics will post -1.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RVNC. Certuity LLC acquired a new position in Revance Therapeutics during the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Revance Therapeutics in the second quarter worth $33,000. Hsbc Holdings PLC acquired a new position in Revance Therapeutics during the second quarter worth $38,000. Nisa Investment Advisors LLC grew its position in Revance Therapeutics by 2,167.5% in the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 18,077 shares in the last quarter. Finally, Creative Planning acquired a new stake in Revance Therapeutics in the 3rd quarter valued at $56,000. Institutional investors 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.