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 Friday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued reports about the company. Stifel Nicolaus dropped 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. Needham & Company LLC downgraded Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th. HC Wainwright downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Finally, Piper Sandler lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.29.

Revance Therapeutics Stock Performance

Shares of RVNC stock opened at $4.70 on Friday. The stock’s 50 day simple moving average is $5.85 and its 200 day simple moving average is $4.30. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $9.74. The company has a market capitalization of $492.65 million, a price-to-earnings ratio of -1.47 and a beta of 0.98.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data 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 company had revenue of $65.39 million during the quarter, compared to the consensus estimate of $66.30 million. During the same period in the previous year, the business posted ($0.80) earnings per share. The firm’s revenue was up 20.2% on a year-over-year basis. On average, analysts forecast that Revance Therapeutics will post -1.53 EPS for the current fiscal year.

Institutional Trading of Revance Therapeutics

Institutional investors have recently bought and sold shares of the stock. Capital World Investors raised its position in Revance Therapeutics by 16.8% in the 1st 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 during the last quarter. BNP Paribas Financial Markets raised its position in Revance Therapeutics by 342.1% in the 1st 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 during the last quarter. Integral Health Asset Management LLC bought a new position in Revance Therapeutics in the 2nd quarter valued at $1,285,000. Vanguard Group Inc. lifted its stake in shares of Revance Therapeutics by 6.5% during the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after acquiring an additional 328,781 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Revance Therapeutics by 3.6% in the first quarter. Blair William & Co. IL now owns 329,267 shares of the biopharmaceutical company’s stock valued at $1,620,000 after acquiring an additional 11,318 shares during the last quarter. 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.