Revance Therapeutics (NASDAQ:RVNC) Trading Down 3.5%

Revance Therapeutics, Inc. (NASDAQ:RVNC - Get Free Report)'s share price dropped 3.5% during mid-day trading on Thursday . The company traded as low as $5.78 and last traded at $5.78. Approximately 2,104,008 shares traded hands during trading, a decline of 26% from the average daily volume of 2,847,570 shares. The stock had previously closed at $5.99.

Analyst Ratings Changes

Several research analysts have weighed in on RVNC shares. Guggenheim restated a "neutral" rating on shares of Revance Therapeutics in a report on Monday, August 12th. StockNews.com initiated coverage on shares of Revance Therapeutics in a research note on Sunday. They issued a "hold" rating for the company. William Blair reiterated a "market perform" rating on shares of Revance Therapeutics in a research report on Monday, August 12th. HC Wainwright lowered shares of Revance Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 13th. Finally, Barclays reissued an "equal weight" rating and set a $7.00 price objective (down from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.50.

Revance Therapeutics Trading Down 2.3 %

The company has a market cap of $611.03 million, a P/E ratio of -1.65 and a beta of 1.00. The stock's 50 day moving average is $5.24 and its 200-day moving average is $4.29.

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

Hedge Funds Weigh In On Revance Therapeutics

Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in Revance Therapeutics during the 4th quarter valued at about $93,000. Charles Schwab Investment Management Inc. lifted its stake in Revance Therapeutics by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,364 shares of the biopharmaceutical company's stock valued at $5,954,000 after acquiring an additional 13,826 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Revance Therapeutics during the 4th quarter valued at about $240,000. Trexquant Investment LP bought a new position in Revance Therapeutics during the 4th quarter valued at about $578,000. Finally, Quest Partners LLC bought a new position in Revance Therapeutics during the 4th quarter valued at about $84,000. Institutional investors own 97.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.