Revance Therapeutics (RVNC) Sets New 52-Week Low at $22.25

Revance Therapeutics Inc (NASDAQ:RVNC) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $22.25 and last traded at $25.10, with a volume of 20985 shares. The stock had previously closed at $24.25.

A number of equities research analysts have issued reports on the stock. BidaskClub downgraded shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Cantor Fitzgerald reiterated a “buy” rating and set a $50.00 price objective on shares of Revance Therapeutics in a research note on Friday. Zacks Investment Research upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Finally, ValuEngine upgraded shares of Revance Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $47.10.

The company has a market cap of $977.01 million, a price-to-earnings ratio of -6.40 and a beta of 1.28.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.02). Revance Therapeutics had a negative net margin of 13,690.62% and a negative return on equity of 63.30%. The company had revenue of $0.69 million during the quarter, compared to analyst estimates of $0.93 million. research analysts forecast that Revance Therapeutics Inc will post -3.9 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of RVNC. Allianz Asset Management GmbH raised its holdings in Revance Therapeutics by 16.5% in the 1st quarter. Allianz Asset Management GmbH now owns 79,437 shares of the biopharmaceutical company’s stock valued at $2,447,000 after buying an additional 11,271 shares during the last quarter. American International Group Inc. raised its holdings in Revance Therapeutics by 11.4% in the 1st quarter. American International Group Inc. now owns 17,205 shares of the biopharmaceutical company’s stock valued at $530,000 after buying an additional 1,765 shares during the last quarter. Federated Investors Inc. PA raised its holdings in Revance Therapeutics by 52.9% in the 1st quarter. Federated Investors Inc. PA now owns 58,530 shares of the biopharmaceutical company’s stock valued at $1,802,000 after buying an additional 20,245 shares during the last quarter. Sio Capital Management LLC bought a new position in Revance Therapeutics in the 2nd quarter valued at approximately $2,780,000. Finally, Wells Fargo & Company MN raised its holdings in Revance Therapeutics by 83.9% in the 1st quarter. Wells Fargo & Company MN now owns 25,635 shares of the biopharmaceutical company’s stock valued at $789,000 after buying an additional 11,695 shares during the last quarter. Institutional investors own 94.35% of the company’s stock.

About Revance Therapeutics (NASDAQ:RVNC)

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.

Read More: How is an ETF different from a mutual fund?

Receive News & Ratings for Revance Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revance Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply