Revance Therapeutics (NASDAQ:RVNC) Announces Earnings Results

Revance Therapeutics (NASDAQ:RVNC) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12, Briefing.com reports. The business had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. During the same period in the previous year, the company posted ($0.80) earnings per share. Revance Therapeutics’s quarterly revenue was up 20.2% on a year-over-year basis.

Revance Therapeutics Stock Up 19.7 %

Shares of NASDAQ RVNC traded up $0.58 during midday trading on Friday, hitting $3.53. The company had a trading volume of 5,106,480 shares, compared to its average volume of 1,912,250. The firm has a market capitalization of $368.70 million, a price-to-earnings ratio of -0.97 and a beta of 0.98. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $20.56. The business has a 50-day simple moving average of $3.11 and a two-hundred day simple moving average of $4.15.

Analyst Upgrades and Downgrades

Several analysts have commented on RVNC shares. Stifel Nicolaus reduced their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday. HC Wainwright decreased their price target on Revance Therapeutics from $12.00 to $11.00 and set a “buy” rating for the company in a report on Monday, May 13th. Piper Sandler lowered their price objective on shares of Revance Therapeutics from $11.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday. Mizuho cut 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 report on Friday, May 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of Revance Therapeutics in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.89.

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.