Revance Therapeutics (NASDAQ:RVNC) Trading 8.5% Higher

Revance Therapeutics, Inc. (NASDAQ:RVNC - Get Free Report)'s stock price shot up 8.5% on Tuesday . The company traded as high as $4.88 and last traded at $4.83. 392,979 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,762,475 shares. The stock had previously closed at $4.45.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RVNC. Barclays cut their price objective on shares of Revance Therapeutics from $35.00 to $10.00 and set an "overweight" rating on the stock in a research note on Monday, January 29th. HC Wainwright restated a "buy" rating and set a $12.00 price target on shares of Revance Therapeutics in a research report on Thursday, February 29th. The Goldman Sachs Group raised their price target on shares of Revance Therapeutics from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, March 1st. Piper Sandler dropped their price target on shares of Revance Therapeutics from $42.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, February 29th. Finally, Needham & Company LLC dropped their price target on shares of Revance Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Revance Therapeutics has a consensus rating of "Hold" and a consensus price target of $13.75.

Revance Therapeutics Price Performance

The firm has a market capitalization of $488.79 million, a PE ratio of -1.24 and a beta of 1.06. The company's fifty day simple moving average is $5.43 and its 200-day simple moving average is $7.17.

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, beating the consensus estimate of ($0.79) by $0.17. The company had revenue of $69.80 million for the quarter, compared to analysts' expectations of $64.02 million. Analysts forecast that Revance Therapeutics, Inc. will post -2.17 earnings per share for the current year.

Insider Transactions at Revance Therapeutics

In other news, insider Dwight Moxie sold 8,125 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 value of $40,950.00. Following the transaction, the insider now directly owns 137,815 shares of the company's stock, valued at $694,587.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Dwight Moxie sold 8,125 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 value of $40,950.00. Following the transaction, the insider now directly owns 137,815 shares of the company's stock, valued at $694,587.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Dustin S. Sjuts sold 9,211 shares of Revance Therapeutics stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $46,423.44. Following the transaction, the president now directly owns 167,550 shares in the company, valued at $844,452. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,697 shares of company stock valued at $134,553. Corporate insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Revance Therapeutics

Institutional investors have recently bought and sold shares of the company. Money Concepts Capital Corp acquired a new stake in shares of Revance Therapeutics during the fourth quarter valued at about $40,000. Advisor Group Holdings Inc. increased its position in shares of Revance Therapeutics by 60.6% during the first quarter. Advisor Group Holdings Inc. now owns 2,838 shares of the biopharmaceutical company's stock valued at $56,000 after acquiring an additional 1,071 shares during the last quarter. Assetmark Inc. increased its position in shares of Revance Therapeutics by 63.2% during the third quarter. Assetmark Inc. now owns 3,257 shares of the biopharmaceutical company's stock valued at $37,000 after acquiring an additional 1,261 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Revance Therapeutics by 38.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the biopharmaceutical company's stock valued at $83,000 after acquiring an additional 901 shares during the last quarter. Finally, Comerica Bank acquired a new stake in shares of Revance Therapeutics during the third quarter valued at about $40,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.