Revance Therapeutics (NASDAQ:RVNC) Shares Up 4.7%

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) shot up 4.7% during mid-day trading on Tuesday . The company traded as high as $6.25 and last traded at $6.25. 1,375,220 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 2,813,659 shares. The stock had previously closed at $5.97.

Analyst Ratings Changes

RVNC has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price target on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 9th. Barclays reaffirmed an “equal weight” rating and set a $7.00 price target (down from $10.00) on shares of Revance Therapeutics in a report on Friday. Needham & Company LLC cut shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th. StockNews.com assumed coverage on Revance Therapeutics in a research note on Sunday. They issued a “hold” rating on the stock. Finally, William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Revance Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $10.50.

Revance Therapeutics Trading Down 0.3 %

The company has a 50-day moving average of $5.12 and a 200-day moving average of $4.29. The firm has a market capitalization of $621.47 million, a price-to-earnings ratio of -1.64 and a beta of 1.00.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.12. The business had revenue of $65.39 million during the quarter, compared to analyst estimates of $66.30 million. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm posted ($0.80) earnings per share.

Institutional Trading of Revance Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC bought a new position in Revance Therapeutics during the 4th quarter worth $84,000. Certuity LLC bought a new stake in Revance Therapeutics during the 2nd quarter valued at $26,000. Victory Capital Management Inc. bought a new stake in Revance Therapeutics during the 4th quarter valued at $93,000. HighPoint Advisor Group LLC bought a new position in shares of Revance Therapeutics in the fourth quarter worth $98,000. Finally, Clarity Capital Partners LLC acquired a new position in shares of Revance Therapeutics during the first quarter valued at $59,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

About Revance Therapeutics

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.