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

Stock analysts at StockNews.com started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report issued on Saturday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on RVNC. Mizuho decreased their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a report on Tuesday, December 10th. HC Wainwright reissued a “neutral” rating and issued a $6.60 price target on shares of Revance Therapeutics in a report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. Finally, Barclays cut their target price on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a report on Monday, December 23rd. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.39.

Revance Therapeutics Price Performance

Shares of Revance Therapeutics stock opened at $3.65 on Friday. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $7.56. The stock has a market cap of $381.02 million, a PE ratio of -1.89 and a beta of 0.90. The firm has a fifty day moving average price of $3.42 and a 200 day moving average price of $4.60.

Hedge Funds Weigh In On Revance Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Beryl Capital Management LLC purchased a new stake in shares of Revance Therapeutics during the fourth quarter worth about $18,042,000. Alpine Associates Management Inc. acquired a new position in Revance Therapeutics during the third quarter worth about $21,605,000. Alliancebernstein L.P. grew its stake in Revance Therapeutics by 7.3% during the 4th quarter. Alliancebernstein L.P. now owns 3,497,112 shares of the biopharmaceutical company’s stock valued at $10,631,000 after acquiring an additional 236,641 shares in the last quarter. Magnetar Financial LLC raised its holdings in Revance Therapeutics by 2.2% in the 4th quarter. Magnetar Financial LLC now owns 2,556,345 shares of the biopharmaceutical company’s stock valued at $7,771,000 after acquiring an additional 56,174 shares during the last quarter. Finally, State Street Corp lifted its stake in Revance Therapeutics by 6.6% in the 3rd quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock worth $12,632,000 after purchasing an additional 150,323 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.