HC Wainwright Reiterates “Neutral” Rating for Revance Therapeutics (NASDAQ:RVNC)

HC Wainwright reiterated their neutral rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a report issued on Friday morning,Benzinga reports. HC Wainwright currently has a $6.60 target price on the biopharmaceutical company’s stock.

Several other research firms also recently issued reports on RVNC. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research note on Monday, October 28th. Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. StockNews.com began coverage on Revance Therapeutics in a research report on Saturday, November 2nd. They issued a “hold” rating on the stock. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Finally, William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.66.

Revance Therapeutics Stock Up 1.6 %

RVNC stock traded up $0.06 during midday trading on Friday, reaching $3.76. 1,261,161 shares of the company’s stock traded hands, compared to its average volume of 2,745,540. The company has a 50-day simple moving average of $5.66 and a two-hundred day simple moving average of $4.42. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $9.74. The company has a market cap of $394.12 million, a price-to-earnings ratio of -1.92 and a beta of 0.95.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million during the quarter, compared to analyst estimates of $67.73 million. Equities research analysts forecast that Revance Therapeutics will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RVNC. Alpine Associates Management Inc. bought a new position in Revance Therapeutics in the 3rd quarter valued at $21,605,000. LMR Partners LLP purchased a new stake in shares of Revance Therapeutics during the 3rd quarter valued at $11,648,000. Capital World Investors raised 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 buying an additional 2,006,459 shares in the last quarter. Stonepine Capital Management LLC raised its position in shares of 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 valued at $7,196,000 after buying an additional 823,658 shares in the last quarter. Finally, Opaleye Management Inc. purchased a new stake in shares of Revance Therapeutics during the 1st quarter valued at $3,862,000. 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.