Barclays Cuts Revance Therapeutics (NASDAQ:RVNC) Price Target to $3.00

Revance Therapeutics (NASDAQ:RVNC) had its target price decreased by stock analysts at Barclays from $7.00 to $3.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays‘s target price indicates a potential downside of 2.91% from the stock’s current price.

RVNC has been the subject of several other reports. Mizuho lowered their target price on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. StockNews.com initiated coverage on shares of Revance Therapeutics in a research report on Friday. They set a “hold” rating for the company. Finally, 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. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.39.

Revance Therapeutics Price Performance

Revance Therapeutics stock opened at $3.09 on Monday. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $9.74. The company has a fifty day moving average price of $4.34 and a two-hundred day moving average price of $4.49. The company has a market cap of $322.57 million, a PE ratio of -1.60 and a beta of 0.81.

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

Institutional Trading of Revance Therapeutics

Large investors have recently added to or reduced their stakes in the company. Alpine Associates Management Inc. purchased a new stake in Revance Therapeutics in the 3rd quarter worth about $21,605,000. Stonepine Capital Management LLC lifted its stake in 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 valued at $7,196,000 after acquiring an additional 823,658 shares during the last quarter. State Street Corp raised its holdings in shares of Revance Therapeutics by 6.6% during the 3rd quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock valued at $12,632,000 after purchasing an additional 150,323 shares in the last quarter. LMR Partners LLP acquired a new position in Revance Therapeutics during the third quarter worth $11,648,000. Finally, Federated Hermes Inc. raised its holdings in Revance Therapeutics by 43.0% during the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after buying an additional 672,803 shares in 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.