Revance Therapeutics (NASDAQ:RVNC) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note released on Thursday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Several other research analysts have also issued reports on RVNC. Piper Sandler lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Barclays restated an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. HC Wainwright lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Stifel Nicolaus decreased their price target on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Needham & Company LLC cut Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Nine equities research 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 an average rating of “Hold” and a consensus target price of $10.29.

Revance Therapeutics Stock Up 2.1 %

Shares of Revance Therapeutics stock opened at $5.29 on Thursday. The business has a fifty day simple moving average of $5.99 and a 200-day simple moving average of $4.28. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $9.74. The firm has a market cap of $554.50 million, a price-to-earnings ratio of -1.66 and a beta of 0.98.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12. The business had revenue of $65.39 million during the quarter, compared to analyst estimates of $66.30 million. Revance Therapeutics’s revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.80) earnings per share. Analysts anticipate that Revance Therapeutics will post -1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds have recently bought and sold shares of RVNC. HighPoint Advisor Group LLC purchased a new position in Revance Therapeutics during the 4th quarter valued at about $98,000. Los Angeles Capital Management LLC purchased a new position in Revance Therapeutics during the first quarter valued at approximately $457,000. BNP Paribas Financial Markets grew its position in 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 purchasing an additional 163,809 shares in the last quarter. Clarity Capital Partners LLC acquired a new position in Revance Therapeutics in the 1st quarter valued at approximately $59,000. Finally, Essex Investment Management Co. LLC lifted its position in Revance Therapeutics by 79.8% in the 1st quarter. Essex Investment Management Co. LLC now owns 220,160 shares of the biopharmaceutical company’s stock worth $1,083,000 after buying an additional 97,741 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.