Revance Therapeutics (NASDAQ:RVNC) Price Target Cut to $3.00 by Analysts at Barclays

Revance Therapeutics (NASDAQ:RVNC) had its target price lowered by Barclays from $7.00 to $3.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on RVNC. Mizuho lowered their target price on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. HC Wainwright reiterated a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, StockNews.com began coverage on Revance Therapeutics in a research note on Friday, December 20th. They issued a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Revance Therapeutics presently has a consensus rating of “Hold” and an average price target of $8.39.

Revance Therapeutics Stock Performance

NASDAQ:RVNC opened at $3.08 on Monday. The business’s fifty day moving average is $4.26 and its 200 day moving average is $4.50. The firm has a market cap of $321.52 million, a price-to-earnings ratio of -1.60 and a beta of 0.82. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $59.88 million during the quarter, compared to analyst estimates of $67.73 million. Equities analysts predict that Revance Therapeutics will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RVNC. Alpine Associates Management Inc. purchased a new position in shares of Revance Therapeutics during the 3rd quarter valued at about $21,605,000. Stonepine Capital Management LLC grew its position in Revance Therapeutics by 41.7% during the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after acquiring an additional 823,658 shares during the last quarter. State Street Corp raised its stake in shares of Revance Therapeutics by 6.6% during the third quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock worth $12,632,000 after acquiring an additional 150,323 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Revance Therapeutics in the 3rd quarter worth approximately $11,648,000. Finally, Federated Hermes Inc. lifted 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. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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.