Mizuho Lowers Revance Therapeutics (NASDAQ:RVNC) Price Target to $3.10

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) had its target price reduced by investment analysts at Mizuho from $6.66 to $3.10 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. Mizuho's price target indicates a potential upside of 2.48% from the stock's current price.

A number of other research firms also recently weighed in on RVNC. William Blair reaffirmed a "market perform" rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Piper Sandler lowered Revance Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 12th. Barclays reaffirmed an "equal weight" rating and issued a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Revance Therapeutics currently has an average rating of "Hold" and an average price target of $8.96.

Revance Therapeutics Price Performance

Shares of RVNC remained flat at $3.03 during trading hours on Tuesday. The stock had a trading volume of 3,698,270 shares, compared to its average volume of 2,790,576. The company has a market cap of $317.32 million, a price-to-earnings ratio of -1.57 and a beta of 0.82. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $9.74. The stock has a fifty day simple moving average of $4.73 and a two-hundred day simple moving average of $4.48.

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million during the quarter, compared to analyst estimates of $67.73 million. On average, research analysts forecast that Revance Therapeutics will post -1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RVNC. Alpine Associates Management Inc. bought a new position in Revance Therapeutics in the 3rd quarter worth approximately $21,605,000. LMR Partners LLP bought a new position in Revance Therapeutics in the 3rd quarter worth approximately $11,648,000. Stonepine Capital Management LLC increased 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 worth $7,196,000 after buying an additional 823,658 shares during the period. Oddo BHF Asset Management Sas bought a new position in Revance Therapeutics in the 3rd quarter worth approximately $3,763,000. Finally, Federated Hermes Inc. increased its position in Revance Therapeutics by 43.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company's stock worth $5,750,000 after buying an additional 672,803 shares during the period. 97.70% of the stock is owned by institutional investors.

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.