Revance Therapeutics Inc. (RVNC) Stock Price Down 3.7%
Shares of Revance Therapeutics Inc. (NASDAQ:RVNC) dropped 3.7% during mid-day trading on Thursday . The stock traded as low as $13.57 and last traded at $13.66, with a volume of 54,226 shares trading hands. The stock had previously closed at $14.19.
RVNC has been the topic of several research reports. Guggenheim reissued a “buy” rating and issued a $55.00 price target on shares of Revance Therapeutics in a research report on Tuesday, June 14th. Brean Capital reissued a “buy” rating on shares of Revance Therapeutics in a research report on Saturday, June 4th. SunTrust Banks Inc. lowered their price target on shares of Revance Therapeutics from $46.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, June 14th. Zacks Investment Research raised shares of Revance Therapeutics from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Wednesday, July 13th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $35.00 target price (down previously from $54.00) on shares of Revance Therapeutics in a report on Tuesday, June 14th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $39.60.
The company has a 50-day moving average price of $13.84 and a 200-day moving average price of $17.73. The company’s market capitalization is $384.01 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 analysts’ consensus estimates of ($0.83) by $0.12. During the same quarter in the previous year, the company posted ($0.65) EPS. Equities analysts expect that Revance Therapeutics Inc. will post ($3.53) earnings per share for the current year.
Several hedge funds recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake 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 worth $1,160,000 after buying an additional 5,492 shares during the last quarter. Russell Frank Co bought a new stake in shares of Revance Therapeutics during the fourth quarter worth about $1,384,000. Finally, Jennison Associates increased its stake 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 worth $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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