Revance Therapeutics, Inc. (NASDAQ:RVNC) Short Interest Down 14.6% in December

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 8,340,000 shares, a drop of 14.6% from the December 15th total of 9,770,000 shares. Based on an average daily volume of 2,720,000 shares, the short-interest ratio is presently 3.1 days.

Revance Therapeutics Stock Up 12.5 %

Shares of NASDAQ RVNC traded up $0.41 during mid-day trading on Friday, reaching $3.68. 11,241,165 shares of the company were exchanged, compared to its average volume of 2,431,710. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $7.56. The firm has a 50-day moving average of $3.46 and a 200 day moving average of $4.54. The stock has a market cap of $384.16 million, a price-to-earnings ratio of -1.91 and a beta of 0.86.

Revance Therapeutics (NASDAQ:RVNC) last released 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 business had revenue of $59.88 million for the quarter, compared to analyst estimates of $67.73 million. On average, equities analysts forecast that Revance Therapeutics will post -1.57 earnings per share for the current year.

Institutional Investors Weigh In On Revance Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC purchased a new position in Revance Therapeutics in the second quarter worth $33,000. Hsbc Holdings PLC purchased a new position in Revance Therapeutics during the 2nd quarter worth $38,000. FORA Capital LLC purchased a new position in Revance Therapeutics during the 3rd quarter worth $54,000. Creative Planning acquired a new position in Revance Therapeutics during the 3rd quarter valued at about $56,000. Finally, Sei Investments Co. raised its stake in Revance Therapeutics by 52.5% in the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 7,628 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

RVNC has been the subject of several research reports. HC Wainwright reissued a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research report on Friday, November 8th. Mizuho dropped their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research report on Friday. Barclays lowered their target price on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a report on Monday, December 23rd. Finally, StockNews.com started coverage on Revance Therapeutics in a research note on Monday, January 13th. They set a “hold” rating on the stock. Nine 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 company presently has a consensus rating of “Hold” and a consensus price target of $8.39.

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.