Revance Therapeutics (NASDAQ:RVNC) Shares Down 3.8% – Should You Sell?

Revance Therapeutics, Inc. (NASDAQ:RVNC) fell 3.8% during trading on Friday . The company traded as low as $5.10 and last traded at $5.10. 144,012 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 2,718,616 shares. The stock had previously closed at $5.30.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RVNC shares. Piper Sandler lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. HC Wainwright cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Finally, Needham & Company LLC downgraded shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.29.

Revance Therapeutics Stock Performance

The company has a 50 day moving average price of $5.89 and a two-hundred day moving average price of $4.30. The firm has a market capitalization of $512.57 million, a price-to-earnings ratio of -1.53 and a beta of 0.98.

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 for the quarter, compared to analysts’ expectations of $66.30 million. During the same quarter in the prior year, the firm earned ($0.80) EPS. The firm’s revenue was up 20.2% on a year-over-year basis. On average, equities analysts expect that Revance Therapeutics, Inc. will post -1.53 earnings per share for the current fiscal year.

Institutional Trading of Revance Therapeutics

Several institutional investors have recently made changes to their positions in RVNC. Capital World Investors lifted its position in shares of Revance Therapeutics by 16.8% during the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after purchasing an additional 2,006,459 shares in the last quarter. Stonepine Capital Management LLC increased its stake in Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after buying an additional 823,658 shares during the period. Opaleye Management Inc. purchased a new position in Revance Therapeutics in the 1st quarter valued at approximately $3,862,000. Federated Hermes Inc. grew its stake in shares of Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after acquiring an additional 672,803 shares in the last quarter. Finally, Integral Health Asset Management LLC purchased a new stake in shares of Revance Therapeutics during the second quarter worth $1,285,000. 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.