Revance Therapeutics (NASDAQ:RVNC) PT Lowered to $11.00 at HC Wainwright

Revance Therapeutics (NASDAQ:RVNC - Free Report) had its price target trimmed by HC Wainwright from $12.00 to $11.00 in a report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company's stock.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group cut their price objective on shares of Revance Therapeutics from $9.00 to $8.00 and set a neutral rating on the stock in a research report on Monday. Mizuho reduced their price objective on shares of Revance Therapeutics from $9.00 to $8.00 and set a neutral rating for the company in a research note on Friday. Piper Sandler reaffirmed an overweight rating and issued a $11.00 target price (down previously from $20.00) on shares of Revance Therapeutics in a research report on Friday. Barclays reduced their price target on Revance Therapeutics from $35.00 to $10.00 and set an overweight rating for the company in a research report on Monday, January 29th. Finally, Needham & Company LLC lowered their price target on Revance Therapeutics from $18.00 to $12.00 and set a buy rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $11.50.

Revance Therapeutics Stock Performance

Shares of RVNC remained flat at $3.32 during midday trading on Monday. The company's stock had a trading volume of 2,845,132 shares, compared to its average volume of 1,869,437. The firm has a market capitalization of $346.00 million, a price-to-earnings ratio of -0.91 and a beta of 1.16. The firm has a fifty day moving average of $4.60 and a 200 day moving average of $6.12. Revance Therapeutics has a 1 year low of $3.00 and a 1 year high of $35.46.

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.79) by $0.17. The firm had revenue of $69.80 million for the quarter, compared to the consensus estimate of $64.02 million. On average, sell-side analysts predict that Revance Therapeutics will post -2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Dustin S. Sjuts sold 9,211 shares of the firm's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $5.04, for a total transaction of $46,423.44. Following the completion of the sale, the president now owns 167,550 shares in the company, valued at approximately $844,452. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Tobin Schilke sold 9,361 shares of the company's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $5.04, for a total value of $47,179.44. Following the transaction, the chief financial officer now owns 192,666 shares of the company's stock, valued at $971,036.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dustin S. Sjuts sold 9,211 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $5.04, for a total value of $46,423.44. Following the transaction, the president now owns 167,550 shares in the company, valued at approximately $844,452. The disclosure for this sale can be found here. Insiders sold a total of 29,089 shares of company stock valued at $143,642 over the last ninety days. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RVNC. Legato Capital Management LLC boosted its position in shares of Revance Therapeutics by 48.8% in the fourth quarter. Legato Capital Management LLC now owns 57,652 shares of the biopharmaceutical company's stock valued at $507,000 after acquiring an additional 18,903 shares during the period. Vanguard Group Inc. boosted its holdings in Revance Therapeutics by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,791,459 shares of the biopharmaceutical company's stock valued at $54,958,000 after purchasing an additional 138,683 shares during the period. Principal Financial Group Inc. grew its position in shares of Revance Therapeutics by 55.2% during the 3rd quarter. Principal Financial Group Inc. now owns 963,029 shares of the biopharmaceutical company's stock worth $11,046,000 after purchasing an additional 342,540 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Revance Therapeutics by 44.7% during the fourth quarter. DNB Asset Management AS now owns 34,652 shares of the biopharmaceutical company's stock worth $305,000 after purchasing an additional 10,706 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Revance Therapeutics in the third quarter valued at approximately $4,749,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.