Revance Therapeutics (NASDAQ:RVNC) Earns “Neutral” Rating from Guggenheim

Revance Therapeutics (NASDAQ:RVNC)‘s stock had its “neutral” rating reiterated by Guggenheim in a research note issued to investors on Monday, Benzinga reports.

Several other research firms have also recently weighed in on RVNC. Mizuho cut their target price on Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research report on Monday. The Goldman Sachs Group dropped their price target 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. Piper Sandler lowered their target price on shares of Revance Therapeutics from $11.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of Revance Therapeutics in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Revance Therapeutics has a consensus rating of “Hold” and a consensus target price of $11.89.

Revance Therapeutics Price Performance

RVNC stock traded up $3.06 during midday trading on Monday, hitting $6.59. The company’s stock had a trading volume of 57,366,742 shares, compared to its average volume of 2,272,356. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $20.38. The company’s fifty day moving average price is $3.13 and its 200 day moving average price is $4.11. The stock has a market capitalization of $688.32 million, a P/E ratio of -1.82 and a beta of 0.98.

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

Institutional Trading of 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 shares of Revance Therapeutics by 16.8% during the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after purchasing an additional 2,006,459 shares in the last quarter. Vanguard Group Inc. raised 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 valued at $26,560,000 after acquiring an additional 328,781 shares in the last quarter. Federated Hermes Inc. boosted 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 acquiring an additional 672,803 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Revance Therapeutics by 251.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock worth $10,085,000 after purchasing an additional 820,587 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Revance Therapeutics by 3.5% in the fourth quarter. Jennison Associates LLC now owns 1,032,352 shares of the biopharmaceutical company’s stock worth $9,074,000 after purchasing an additional 34,736 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Company Profile

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.