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

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

A number of other brokerages have also recently commented on RVNC. Stifel Nicolaus lowered their target price on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 9th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Barclays restated an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th. Finally, HC Wainwright reissued a “neutral” rating and set a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.66.

Revance Therapeutics Stock Performance

Shares of RVNC stock opened at $4.17 on Monday. The stock has a fifty day moving average price of $5.41 and a 200 day moving average price of $4.44. The stock has a market cap of $437.44 million, a PE ratio of -2.16 and a beta of 0.95. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results 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 firm had revenue of $59.88 million during the quarter, compared to analyst estimates of $67.73 million. As a group, equities research analysts predict that Revance Therapeutics will post -1.54 earnings per share for the current year.

Institutional Investors Weigh In On Revance Therapeutics

Hedge funds have recently modified their holdings of the stock. Capital World Investors raised its stake in Revance Therapeutics by 16.8% during the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after purchasing an additional 2,006,459 shares during the period. Vanguard Group Inc. increased its holdings in shares of Revance Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after buying an additional 328,781 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in shares of Revance Therapeutics in the 3rd quarter worth $21,605,000. Stonepine Capital Management LLC grew its position in 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 period. Finally, State Street Corp grew its position in 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 period. 97.70% of the stock is owned by institutional investors and hedge funds.

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.