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

Equities research analysts at StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report issued on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on RVNC. Barclays reissued an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. HC Wainwright reiterated a “neutral” rating and issued a $6.60 price target on shares of Revance Therapeutics in a report on Friday, November 8th. Mizuho decreased their price target on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.96.

Revance Therapeutics Stock Performance

NASDAQ RVNC opened at $3.07 on Friday. The business’s 50 day moving average price is $4.38 and its 200-day moving average price is $4.47. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $9.74. The company has a market cap of $320.48 million, a P/E ratio of -1.59 and a beta of 0.81.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. As a group, equities analysts predict that Revance Therapeutics will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Revance Therapeutics by 2,167.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 18,077 shares during the period. Bank of New York Mellon Corp lifted its stake in Revance Therapeutics by 22.5% in the second quarter. Bank of New York Mellon Corp now owns 373,015 shares of the biopharmaceutical company’s stock worth $959,000 after acquiring an additional 68,451 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Revance Therapeutics by 47.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,961 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 10,638 shares in the last quarter. Rhumbline Advisers increased its position in Revance Therapeutics by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 136,347 shares of the biopharmaceutical company’s stock valued at $350,000 after purchasing an additional 14,191 shares during the period. Finally, CM Management LLC increased its position in Revance Therapeutics by 60.0% during the 2nd quarter. CM Management LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $1,028,000 after purchasing an additional 150,000 shares during the period. 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.