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

Revance Therapeutics (NASDAQ:RVNCGet Free Report) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02), reports. The firm had revenue of $59.88 million during the quarter, compared to analysts’ expectations of $67.73 million.

Revance Therapeutics Stock Down 36.0 %

RVNC stock traded down $2.08 during trading on Friday, hitting $3.70. 13,145,829 shares of the company’s stock traded hands, compared to its average volume of 2,753,991. The business has a fifty day simple moving average of $5.66 and a two-hundred day simple moving average of $4.42. The firm has a market capitalization of $387.85 million, a P/E ratio of -1.92 and a beta of 0.95. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $9.74.

Institutional Trading of Revance Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Certuity LLC purchased a new stake in shares of Revance Therapeutics during the 2nd quarter worth $26,000. Vanguard Personalized Indexing Management LLC bought a new position in Revance Therapeutics in the second quarter worth about $33,000. Hsbc Holdings PLC purchased a new stake in shares of Revance Therapeutics during the second quarter valued at about $38,000. Nisa Investment Advisors LLC boosted its holdings in shares of Revance Therapeutics by 2,167.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 18,077 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Revance Therapeutics in the 3rd quarter worth approximately $56,000. Institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RVNC. Piper Sandler lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Stifel Nicolaus decreased their price objective on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 9th. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research report on Friday. Finally, StockNews.com initiated coverage on Revance Therapeutics in a report on Saturday, November 2nd. They issued a “hold” rating for the company. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.66.

Check Out Our Latest Research Report on RVNC

About Revance Therapeutics

(Get Free Report)

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.

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Earnings History for Revance Therapeutics (NASDAQ:RVNC)

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