Revance Therapeutics (NASDAQ:RVNC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

RVNC has been the subject of a number of other research reports. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th. HC Wainwright reissued a “neutral” rating and issued a $6.60 price target on shares of Revance Therapeutics in a research note on Friday, November 8th. Mizuho reduced their price target 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. Finally, Barclays lowered their price objective on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research report on Monday, December 23rd. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.39.

Revance Therapeutics Price Performance

RVNC opened at $3.09 on Friday. The firm has a market capitalization of $322.57 million, a price-to-earnings ratio of -1.60 and a beta of 0.86. The company’s 50 day simple moving average is $3.91 and its two-hundred day simple moving average is $4.48. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $8.98.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data 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 analysts’ expectations of $67.73 million. On average, equities analysts anticipate that Revance Therapeutics will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Revance Therapeutics

A number of institutional investors have recently bought and sold shares of RVNC. Arizona State Retirement System raised its position in shares of Revance Therapeutics by 27.6% during the 2nd quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 5,996 shares in the last quarter. Sei Investments Co. raised its holdings in Revance Therapeutics by 52.5% during the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 7,628 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Revance Therapeutics by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 7,890 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Revance Therapeutics by 29.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 9,601 shares during the last quarter. Finally, Certuity LLC acquired a new position in shares of Revance Therapeutics in the 2nd quarter valued at $26,000. 97.70% of the stock is 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.