Revance Therapeutics (NASDAQ:RVNC) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Revance Therapeutics (NASDAQ:RVNC) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02), reports. The company had revenue of $59.88 million during the quarter, compared to the consensus estimate of $67.73 million.

Revance Therapeutics Trading Down 36.0 %

Shares of RVNC opened at $3.70 on Friday. The firm has a fifty day simple moving average of $5.66 and a two-hundred day simple moving average of $4.42. The firm has a market cap of $387.85 million, a PE ratio of -1.92 and a beta of 0.95. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $9.74.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Piper Sandler lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Barclays reiterated an “equal weight” rating and issued a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. StockNews.com initiated coverage on shares of Revance Therapeutics in a report on Sunday. They set a “hold” rating on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a report on Friday. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.66.

Institutional Trading of Revance Therapeutics

Several large investors have recently modified their holdings of the company. Alpine Associates Management Inc. bought a new position in Revance Therapeutics in the third quarter valued at about $21,605,000. LMR Partners LLP bought a new position in shares of Revance Therapeutics in the 3rd quarter worth approximately $11,648,000. Capital World Investors boosted its holdings in shares of Revance Therapeutics by 16.8% in the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after buying an additional 2,006,459 shares during the last quarter. Stonepine Capital Management LLC boosted its holdings in shares of Revance Therapeutics by 41.7% in the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after buying an additional 823,658 shares during the last quarter. Finally, Opaleye Management Inc. bought a new stake in Revance Therapeutics during the first quarter valued at approximately $3,862,000. Institutional investors own 97.70% of the company’s stock.

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.