Revance Therapeutics (NASDAQ:RVNC) Now Covered by StockNews.com

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

A number of other analysts have also recently issued reports on the company. Mizuho lowered their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. HC Wainwright restated a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Barclays lowered their target price on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Monday, December 23rd. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.39.

Revance Therapeutics Stock Performance

Shares of NASDAQ:RVNC opened at $3.25 on Monday. The stock’s 50-day moving average is $3.66 and its 200-day moving average is $4.54. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $7.56. The company has a market cap of $339.27 million, a P/E ratio of -1.68 and a beta of 0.86.

Revance Therapeutics (NASDAQ:RVNC) last issued 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 business had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $67.73 million. As a group, equities analysts predict that Revance Therapeutics will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

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