Revance Therapeutics Inc. (RVNC) Shares Down 3.7%
Shares of Revance Therapeutics Inc. (NASDAQ:RVNC) fell 3.7% on Thursday . The stock traded as low as $13.57 and last traded at $13.66, with a volume of 54,226 shares changing hands. The stock had previously closed at $14.19.
Several research firms recently weighed in on RVNC. Zacks Investment Research upgraded shares of Revance Therapeutics from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, July 13th. Brean Capital reiterated a “hold” rating on shares of Revance Therapeutics in a report on Thursday, June 23rd. SunTrust Banks Inc. dropped their target price on shares of Revance Therapeutics from $46.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, June 14th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $35.00 target price (down previously from $54.00) on shares of Revance Therapeutics in a report on Tuesday, June 14th. Finally, Guggenheim reiterated a “buy” rating and issued a $55.00 target price on shares of Revance Therapeutics in a report on Tuesday, June 14th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $39.60.
The company’s 50-day moving average is $14.00 and its 200 day moving average is $17.81. The firm’s market capitalization is $388.85 million.
Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.12. During the same quarter in the previous year, the company posted ($0.65) earnings per share. Equities analysts forecast that Revance Therapeutics Inc. will post ($3.53) earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in RVNC. California State Teachers Retirement System increased its position in shares of Revance Therapeutics by 19.3% in the fourth quarter. California State Teachers Retirement System now owns 33,966 shares of the biopharmaceutical company’s stock valued at $1,160,000 after buying an additional 5,492 shares during the last quarter. Russell Frank Co purchased a new position in shares of Revance Therapeutics during the fourth quarter valued at about $1,384,000. Finally, Jennison Associates increased its position in shares of Revance Therapeutics by 0.8% in the third quarter. Jennison Associates now owns 78,156 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 603 shares during the last quarter.
Revance Therapeutics, Inc is a biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its TransMTS technology enables delivery of botulinum toxin type A through investigational drug product candidates, including DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical, and DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable.
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