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

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

Other research analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Stifel Nicolaus cut their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research 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. HC Wainwright restated a “neutral” rating and issued a $6.60 price target on shares of Revance Therapeutics in a report on Friday, November 8th. Finally, Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.66.

Revance Therapeutics Stock Up 1.9 %

Shares of RVNC opened at $3.80 on Tuesday. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $9.74. The company has a market cap of $398.62 million, a PE ratio of -1.97 and a beta of 0.95. The business has a fifty day moving average of $5.09 and a 200 day moving average of $4.43.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $67.73 million. As a group, research analysts anticipate that Revance Therapeutics will post -1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in Revance Therapeutics during the third quarter worth $120,000. Wellington Management Group LLP bought a new position in shares of Revance Therapeutics in the 3rd quarter worth $2,315,000. State Street Corp lifted its stake 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Revance Therapeutics by 11.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,210 shares of the biopharmaceutical company’s stock valued at $1,376,000 after purchasing an additional 27,420 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in Revance Therapeutics in the third quarter valued at about $54,000. 97.70% of the stock is currently owned by 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.