Revance Therapeutics (NASDAQ:RVNC) PT Lowered to $6.00

Revance Therapeutics (NASDAQ:RVNC) had its target price lowered by stock analysts at Piper Sandler from $11.00 to $6.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price target would suggest a potential upside of 69.49% from the stock’s current price.

RVNC has been the topic of a number of other reports. Stifel Nicolaus decreased their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price target on shares of Revance Therapeutics in a research report on Friday. HC Wainwright cut their price objective on shares of Revance Therapeutics from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Mizuho reduced their price objective on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Finally, The Goldman Sachs Group lowered their target price on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.89.

Revance Therapeutics Price Performance

Shares of RVNC traded up $0.59 during trading hours on Friday, hitting $3.54. The company’s stock had a trading volume of 1,472,250 shares, compared to its average volume of 1,888,503. The business has a 50 day simple moving average of $3.11 and a two-hundred day simple moving average of $4.15. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $20.56. The company has a market cap of $369.75 million, a price-to-earnings ratio of -0.94 and a beta of 0.98.

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 business had revenue of $65.39 million during the quarter, compared to the consensus estimate of $66.30 million. During the same period last year, the business posted ($0.80) earnings per share. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. Research analysts predict that Revance Therapeutics will post -1.83 earnings per share for the current year.

Hedge Funds Weigh In On Revance Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of RVNC. Capital World Investors grew its position in Revance Therapeutics by 16.8% in the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after acquiring an additional 2,006,459 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Revance Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after purchasing an additional 328,781 shares in the last quarter. Federated Hermes Inc. increased its position 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 valued at $5,750,000 after purchasing an additional 672,803 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Revance Therapeutics by 251.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock valued at $10,085,000 after buying an additional 820,587 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Revance Therapeutics by 3.5% in the 4th quarter. Jennison Associates LLC now owns 1,032,352 shares of the biopharmaceutical company’s stock worth $9,074,000 after buying an additional 34,736 shares during the last quarter. Hedge funds and other 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.