Revance Therapeutics’ (RVNC) “Equal Weight” Rating Reaffirmed at Barclays

Barclays reaffirmed their equal weight rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report report published on Friday, Benzinga reports. Barclays currently has a $7.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $10.00.

Other equities research analysts have also recently issued reports about the stock. William Blair reiterated a market perform rating on shares of Revance Therapeutics in a report on Monday, August 12th. HC Wainwright lowered shares of Revance Therapeutics from a strong-buy rating to a hold rating in a research note on Tuesday, August 13th. Stifel Nicolaus decreased their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a buy rating for the company in a report on Friday, August 9th. StockNews.com assumed coverage on Revance Therapeutics in a research note on Saturday, September 7th. They issued a hold rating on the stock. Finally, Needham & Company LLC downgraded Revance Therapeutics from a moderate buy rating to a hold rating in a research note on Tuesday, August 13th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Revance Therapeutics has a consensus rating of Hold and a consensus price target of $10.50.

Revance Therapeutics Price Performance

Shares of RVNC opened at $5.97 on Friday. The company has a market capitalization of $623.56 million, a price-to-earnings ratio of -1.64 and a beta of 1.00. The business’s 50-day moving average is $5.12 and its 200-day moving average is $4.29. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $16.98.

Revance Therapeutics (NASDAQ:RVNC) last released its 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 company had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. During the same quarter in the previous year, the company earned ($0.80) EPS. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC bought a new position in shares of Revance Therapeutics during the 4th quarter worth approximately $84,000. Certuity LLC bought a new stake in shares of Revance Therapeutics in the 2nd quarter worth about $26,000. Victory Capital Management Inc. bought a new position in Revance Therapeutics during the 4th quarter valued at about $93,000. HighPoint Advisor Group LLC acquired a new position in Revance Therapeutics in the fourth quarter valued at about $98,000. Finally, Clarity Capital Partners LLC acquired a new position in Revance Therapeutics in the first quarter valued at about $59,000. 97.70% of the stock is owned by institutional investors.

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.