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

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

Several other brokerages also recently commented on RVNC. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Barclays reaffirmed an “equal weight” rating and issued a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.66.

Revance Therapeutics Stock Up 5.1 %

Shares of RVNC stock opened at $3.92 on Wednesday. The business has a fifty day simple moving average of $4.86 and a 200 day simple moving average of $4.46. The company has a market cap of $411.21 million, a P/E ratio of -2.03 and a beta of 0.81. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $59.88 million during the quarter, compared to analysts’ expectations of $67.73 million. As a group, equities 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

A number of hedge funds and other institutional investors have recently made changes to their positions in RVNC. Certuity LLC bought a new position in Revance Therapeutics during the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC bought a new position in Revance Therapeutics during the second quarter worth $33,000. Hsbc Holdings PLC bought a new position in Revance Therapeutics during the second quarter worth $38,000. Nisa Investment Advisors LLC lifted its holdings in Revance Therapeutics by 2,167.5% in the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 18,077 shares during the period. Finally, FORA Capital LLC bought a new stake in Revance Therapeutics during the third quarter valued at $54,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Revance Therapeutics Company Profile

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.