Revance Therapeutics (NASDAQ:RVNC) Shares Down 3.8% - Should You Sell?

Revance Therapeutics, Inc. (NASDAQ:RVNC - Get Free Report) fell 3.8% on Friday . The company traded as low as $5.10 and last traded at $5.10. 144,012 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 2,718,616 shares. The stock had previously closed at $5.30.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RVNC shares. Guggenheim restated a "neutral" rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Needham & Company LLC downgraded shares of Revance Therapeutics from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, August 13th. William Blair restated a "market perform" rating on shares of Revance Therapeutics in a research note on Monday, August 12th. StockNews.com began coverage on shares of Revance Therapeutics in a research note on Friday. They set a "hold" rating for the company. Finally, Stifel Nicolaus dropped their price target on Revance Therapeutics from $24.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $10.29.

Revance Therapeutics Price Performance

The stock has a market cap of $492.65 million, a price-to-earnings ratio of -1.53 and a beta of 0.98. The stock's 50-day moving average is $5.89 and its 200-day moving average is $4.30.

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million for the quarter, compared to analysts' expectations of $66.30 million. The company's revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.80) earnings per share. Analysts predict that Revance Therapeutics, Inc. will post -1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RVNC. Capital World Investors lifted its position in shares of Revance Therapeutics by 16.8% during the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company's stock worth $68,612,000 after purchasing an additional 2,006,459 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Revance Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company's stock worth $26,560,000 after buying an additional 328,781 shares in the last quarter. Stonepine Capital Management LLC boosted its position in Revance Therapeutics by 41.7% in the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company's stock valued at $7,196,000 after buying an additional 823,658 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Revance Therapeutics by 43.0% during the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company's stock valued at $5,750,000 after acquiring an additional 672,803 shares in the last quarter. Finally, Opaleye Management Inc. purchased a new stake in shares of Revance Therapeutics during the first quarter worth about $3,862,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

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.