Revance Therapeutics (NASDAQ:RVNC) Given New $20.00 Price Target at Stifel Nicolaus

Revance Therapeutics (NASDAQ:RVNC) had its price target trimmed by Stifel Nicolaus from $24.00 to $20.00 in a report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on RVNC. The Goldman Sachs Group reduced their target price on Revance Therapeutics from $9.00 to $8.00 and set a neutral rating on the stock in a report on Monday, May 13th. Needham & Company LLC reissued a buy rating and set a $12.00 target price on shares of Revance Therapeutics in a research note on Friday. HC Wainwright cut their price target on shares of Revance Therapeutics from $12.00 to $11.00 and set a buy rating on the stock in a research report on Monday, May 13th. Piper Sandler reissued an overweight rating and issued a $11.00 price objective (down from $20.00) on shares of Revance Therapeutics in a research report on Friday, May 10th. Finally, Mizuho cut their target price on Revance Therapeutics from $9.00 to $8.00 and set a neutral rating on the stock in a research report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Revance Therapeutics presently has a consensus rating of Moderate Buy and a consensus price target of $11.89.

Revance Therapeutics Trading Up 19.7 %

RVNC traded up $0.58 during trading on Friday, reaching $3.53. 5,107,461 shares of the company’s stock were exchanged, compared to its average volume of 1,963,542. Revance Therapeutics has a one year low of $2.30 and a one year high of $20.56. The firm has a fifty day moving average price of $3.13 and a two-hundred day moving average price of $4.12. The stock has a market capitalization of $368.70 million, a PE ratio of -0.97 and a beta of 0.98.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Capital World Investors increased its stake in 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. increased its position in shares of Revance Therapeutics by 6.5% during the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after acquiring an additional 328,781 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Revance Therapeutics by 43.0% in the 2nd 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 during the last quarter. CIBC Asset Management Inc lifted its position in Revance Therapeutics by 251.2% in 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 acquiring an additional 820,587 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Revance Therapeutics by 3.5% during the 4th quarter. Jennison Associates LLC now owns 1,032,352 shares of the biopharmaceutical company’s stock valued at $9,074,000 after purchasing an additional 34,736 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.