Brokerages Set Revance Therapeutics, Inc. (NASDAQ:RVNC) Target Price at $8.39

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) have earned an average rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $8.39.

A number of research firms have recently issued reports on RVNC. HC Wainwright restated a “neutral” rating and issued a $6.60 price target on shares of Revance Therapeutics in a research report on Friday, November 8th. Barclays dropped their price target on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research report on Monday, December 23rd. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. StockNews.com began coverage on Revance Therapeutics in a research report on Saturday, February 22nd. They issued a “hold” rating for the company. Finally, Mizuho dropped their price target on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a research report on Tuesday, December 10th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Beryl Capital Management LLC acquired a new position in Revance Therapeutics in the fourth quarter valued at approximately $18,042,000. Alpine Associates Management Inc. acquired a new position in Revance Therapeutics in the third quarter valued at approximately $21,605,000. Alliancebernstein L.P. lifted its stake in Revance Therapeutics by 7.3% during the fourth quarter. Alliancebernstein L.P. now owns 3,497,112 shares of the biopharmaceutical company’s stock worth $10,631,000 after purchasing an additional 236,641 shares in the last quarter. Magnetar Financial LLC lifted its stake in Revance Therapeutics by 2.2% during the fourth quarter. Magnetar Financial LLC now owns 2,556,345 shares of the biopharmaceutical company’s stock worth $7,771,000 after purchasing an additional 56,174 shares in the last quarter. Finally, State Street Corp lifted its stake in Revance Therapeutics by 6.6% during the third quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock worth $12,632,000 after purchasing an additional 150,323 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Revance Therapeutics Stock Performance

NASDAQ:RVNC opened at $3.65 on Thursday. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $7.56. The stock has a 50 day moving average of $3.45 and a two-hundred day moving average of $4.59. The firm has a market cap of $381.02 million, a P/E ratio of -1.89 and a beta of 0.90.

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.