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

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

Revance Therapeutics Price Performance

Shares of Revance Therapeutics stock traded down $2.08 during trading hours on Friday, reaching $3.70. The company’s stock had a trading volume of 13,145,829 shares, compared to its average volume of 2,753,991. The firm has a 50 day moving average price of $5.66 and a 200-day moving average price of $4.42. The stock has a market cap of $387.85 million, a P/E ratio of -1.92 and a beta of 0.95. Revance Therapeutics has a one year low of $2.30 and a one year high of $9.74.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Certuity LLC purchased a new position in shares of Revance Therapeutics in the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in Revance Therapeutics in the second quarter worth $33,000. Hsbc Holdings PLC purchased a new position in Revance Therapeutics during the second quarter worth $38,000. Nisa Investment Advisors LLC increased its position in Revance Therapeutics by 2,167.5% during the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 18,077 shares during the last quarter. Finally, Creative Planning purchased a new stake in shares of Revance Therapeutics in the third quarter valued at $56,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research report on Friday. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Piper Sandler lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Stifel Nicolaus cut their target price on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Barclays reiterated an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.66.

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.