Revance Therapeutics (NASDAQ:RVNC) Now Covered by StockNews.com

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

Several other analysts have also recently issued reports on RVNC. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. HC Wainwright reissued a “neutral” rating and set a $6.60 target price on shares of Revance Therapeutics in a research note on Friday, November 8th. Stifel Nicolaus dropped their price target on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.66.

Revance Therapeutics Trading Up 5.8 %

Shares of NASDAQ RVNC opened at $4.02 on Tuesday. The stock has a market cap of $421.71 million, a price-to-earnings ratio of -2.08 and a beta of 0.95. The stock’s 50-day moving average is $5.05 and its 200 day moving average is $4.44. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, analysts forecast that Revance Therapeutics will post -1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake in shares of Revance Therapeutics by 27.6% in the second quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 5,996 shares during the last quarter. Sei Investments Co. grew its position in Revance Therapeutics by 52.5% during the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 7,628 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Revance Therapeutics by 64.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 7,890 shares in the last quarter. California State Teachers Retirement System raised its holdings in Revance Therapeutics by 9.8% in the first quarter. California State Teachers Retirement System now owns 97,493 shares of the biopharmaceutical company’s stock worth $480,000 after buying an additional 8,668 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Revance Therapeutics by 29.4% in the second quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 9,601 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

About Revance Therapeutics

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.