Revance Therapeutics (NASDAQ:RVNC) Stock Rating Lowered by Piper Sandler

Revance Therapeutics (NASDAQ:RVNC) was downgraded by equities researchers at Piper Sandler from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus cut their price target on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 9th. HC Wainwright downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research report on Monday. The Goldman Sachs Group cut their price objective on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Finally, Mizuho lowered their target price 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. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.89.

Revance Therapeutics Price Performance

Shares of RVNC stock opened at $6.58 on Monday. The stock’s 50 day simple moving average is $3.34 and its two-hundred day simple moving average is $4.14. The company has a market cap of $689.72 million, a PE ratio of -1.81 and a beta of 0.98. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $19.88.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. The business had revenue of $65.39 million for the quarter, compared to the consensus estimate of $66.30 million. During the same period in the prior year, the business posted ($0.80) earnings per share. Revance Therapeutics’s revenue was up 20.2% on a year-over-year basis. Equities research analysts expect that Revance Therapeutics will post -1.83 EPS for the current year.

Institutional Trading of Revance Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in Revance Therapeutics by 626.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,823 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 5,884 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Revance Therapeutics by 27.6% in the second quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 5,996 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Revance Therapeutics by 67.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 16,981 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 6,826 shares during the last quarter. Handelsbanken Fonder AB increased its position in Revance Therapeutics by 54.1% during the 4th quarter. Handelsbanken Fonder AB now owns 20,800 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 7,300 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Revance Therapeutics by 52.5% in the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 7,628 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.