StockNews.com Initiates Coverage on Revance Therapeutics (NASDAQ:RVNC)

Stock analysts at StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report issued on Saturday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on RVNC. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th. Barclays reduced their price target 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 price objective on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $6.60 target price on shares of Revance Therapeutics in a report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Price Performance

Shares of NASDAQ:RVNC opened at $3.06 on Friday. The company’s fifty day moving average price is $4.12 and its 200-day moving average price is $4.50. The firm has a market capitalization of $319.43 million, a price-to-earnings ratio of -1.59 and a beta of 0.81. Revance Therapeutics has a one year low of $2.30 and a one year high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million during the quarter, compared to analyst estimates of $67.73 million. As a group, equities research analysts expect that Revance Therapeutics will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alpine Associates Management Inc. bought a new stake in Revance Therapeutics during the 3rd quarter valued at $21,605,000. Stonepine Capital Management LLC raised its stake in shares of Revance Therapeutics by 41.7% during the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after acquiring an additional 823,658 shares during the last quarter. State Street Corp raised its stake in shares of Revance Therapeutics by 6.6% during the third quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock valued at $12,632,000 after acquiring an additional 150,323 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of Revance Therapeutics during the third quarter worth about $11,648,000. Finally, Federated Hermes Inc. grew its stake in shares of Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after purchasing an additional 672,803 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

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.