Revance Therapeutics (NASDAQ:RVNC) Receives “Equal Weight” Rating from Barclays

Barclays reiterated their equal weight rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report released on Friday, Benzinga reports. They currently have a $7.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $10.00.

RVNC has been the subject of several other reports. Guggenheim reissued a neutral rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Piper Sandler downgraded shares of Revance Therapeutics from a strong-buy rating to a hold rating in a report on Monday, August 12th. StockNews.com started coverage on shares of Revance Therapeutics in a report on Saturday, September 7th. They issued a hold rating on the stock. Stifel Nicolaus reduced their price objective on shares of Revance Therapeutics from $24.00 to $20.00 and set a buy rating for the company in a research note on Friday, August 9th. 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. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $10.50.

Revance Therapeutics Price Performance

Shares of Revance Therapeutics stock opened at $6.55 on Friday. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $17.59. The stock has a market cap of $686.57 million, a price-to-earnings ratio of -1.80 and a beta of 1.00. The firm’s 50-day moving average is $5.05 and its two-hundred day moving average is $4.31.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.12. The business had revenue of $65.39 million for the quarter, compared to analysts’ expectations of $66.30 million. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.80) earnings per share.

Institutional Investors Weigh In On Revance Therapeutics

A number of large investors have recently made changes to their positions in the stock. Certuity LLC acquired a new stake in Revance Therapeutics during the 2nd quarter worth about $26,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Revance Therapeutics in the second quarter worth about $33,000. Hsbc Holdings PLC acquired a new stake in shares of Revance Therapeutics during the second quarter worth about $38,000. Nisa Investment Advisors LLC boosted its position in Revance Therapeutics by 2,167.5% in the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 18,077 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Revance Therapeutics by 52.5% in the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 7,628 shares during the period. 97.70% of the stock is owned by hedge funds and other 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.