Revance Therapeutics (NASDAQ:RVNC) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report released on Saturday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Several other brokerages have also commented on RVNC. Barclays decreased their target price on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, December 23rd. Mizuho lowered their target price on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. HC Wainwright reiterated a “neutral” rating and set a $6.60 price target on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.39.

Revance Therapeutics Stock Performance

RVNC stock opened at $3.06 on Friday. The stock has a market capitalization of $319.43 million, a PE ratio of -1.59 and a beta of 0.81. The company has a fifty day moving average of $4.08 and a 200-day moving average of $4.50. Revance Therapeutics has a one year low of $2.30 and a one year high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data 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 business had revenue of $59.88 million during the quarter, compared to the consensus estimate of $67.73 million. Equities analysts forecast that Revance Therapeutics will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RVNC. Exome Asset Management LLC acquired a new position in shares of Revance Therapeutics in the 3rd quarter valued at $1,804,000. Oddo BHF Asset Management Sas acquired a new stake in Revance Therapeutics during the third quarter worth about $3,763,000. Virtu Financial LLC purchased a new position in shares of Revance Therapeutics in the 3rd quarter worth about $120,000. Wellington Management Group LLP acquired a new position in shares of Revance Therapeutics in the 3rd quarter valued at about $2,315,000. Finally, State Street Corp grew its holdings in shares of Revance Therapeutics by 6.6% during the 3rd quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock worth $12,632,000 after purchasing an additional 150,323 shares during the period. 97.70% of the stock is currently owned by hedge funds and other 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.