StockNews.com Initiates Coverage on Revance Therapeutics (NASDAQ:RVNC)

Research analysts at StockNews.com assumed coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note issued to investors on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on the company. Mizuho decreased their price objective on Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Stifel Nicolaus decreased their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 9th. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Finally, HC Wainwright lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.88.

Revance Therapeutics Stock Performance

Revance Therapeutics stock opened at $6.57 on Friday. The firm has a market cap of $686.23 million, a price-to-earnings ratio of -1.81 and a beta of 0.98. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $18.34. The firm has a 50 day moving average price of $4.17 and a two-hundred day moving average price of $4.23.

Revance Therapeutics (NASDAQ:RVNC) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. The firm had revenue of $65.39 million for the quarter, compared to the consensus estimate of $66.30 million. Revance Therapeutics’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.80) EPS. As a group, equities research analysts predict that Revance Therapeutics will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVNC. Capital World Investors lifted its holdings in shares of Revance Therapeutics by 16.8% in the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after purchasing an additional 2,006,459 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Revance Therapeutics by 342.1% during the first quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock valued at $1,042,000 after buying an additional 163,809 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Revance Therapeutics during the fourth quarter valued at $93,000. Vanguard Group Inc. lifted its stake in Revance Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after acquiring an additional 328,781 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Revance Therapeutics by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,364 shares of the biopharmaceutical company’s stock worth $5,954,000 after acquiring an additional 13,826 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.