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

StockNews.com began coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report sent to investors on Wednesday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other research analysts have also weighed in on RVNC. Stifel Nicolaus lowered their price target on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. HC Wainwright reaffirmed a “neutral” rating and set a $6.60 price target on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.66.

Revance Therapeutics Stock Performance

Shares of Revance Therapeutics stock opened at $4.17 on Wednesday. The business’s 50 day simple moving average is $4.83 and its 200 day simple moving average is $4.45. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $9.74. The firm has a market cap of $437.44 million, a PE ratio of -2.16 and a beta of 0.82.

Revance Therapeutics (NASDAQ:RVNC) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (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 analyst estimates of $67.73 million. As a group, equities research analysts predict that Revance Therapeutics will post -1.54 EPS for the current year.

Institutional Trading of Revance Therapeutics

Several institutional investors have recently added to or reduced their stakes in RVNC. Alpine Associates Management Inc. bought a new stake in Revance Therapeutics in the 3rd quarter valued at $21,605,000. LMR Partners LLP bought a new stake in Revance Therapeutics in the 3rd quarter valued at $11,648,000. Stonepine Capital Management LLC lifted its position in shares of Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after acquiring an additional 823,658 shares during the period. Oddo BHF Asset Management Sas bought a new stake in shares of Revance Therapeutics during the 3rd quarter valued at $3,763,000. Finally, Federated Hermes Inc. lifted its position in shares of Revance Therapeutics by 43.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after acquiring an additional 672,803 shares during the period. 97.70% of the stock is currently owned by 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.