Revance Therapeutics (NASDAQ:RVNC) Given New $3.10 Price Target at Mizuho

Revance Therapeutics (NASDAQ:RVNC) had its target price reduced by analysts at Mizuho from $6.66 to $3.10 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Mizuho’s price target would indicate a potential upside of 2.31% from the company’s previous close.

Several other equities research analysts have also commented on the company. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. StockNews.com initiated coverage on shares of Revance Therapeutics in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Piper Sandler lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Barclays reissued an “equal weight” rating and set a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Revance Therapeutics presently has an average rating of “Hold” and an average price target of $8.96.

Revance Therapeutics Trading Down 20.7 %

RVNC opened at $3.03 on Tuesday. The firm has a 50 day moving average of $4.73 and a two-hundred day moving average of $4.48. The firm has a market capitalization of $317.85 million, a PE ratio of -1.57 and a beta of 0.82. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. As a group, analysts predict that Revance Therapeutics will post -1.54 EPS for the current fiscal year.

Institutional Trading of Revance Therapeutics

Several large investors have recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in shares of Revance Therapeutics during the third quarter worth $11,648,000. Integral Health Asset Management LLC acquired a new stake in Revance Therapeutics in the 2nd quarter valued at about $1,285,000. Alpine Associates Management Inc. acquired a new stake in Revance Therapeutics in the 3rd quarter valued at about $21,605,000. Price T Rowe Associates Inc. MD lifted its stake in Revance Therapeutics by 28.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,361 shares of the biopharmaceutical company’s stock worth $342,000 after purchasing an additional 15,496 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Revance Therapeutics by 567.6% during the 2nd quarter. AQR Capital Management LLC now owns 201,080 shares of the biopharmaceutical company’s stock worth $517,000 after purchasing an additional 170,960 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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.