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

StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report released on Thursday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on the company. Barclays restated an “equal weight” rating and set a $7.00 price objective (down from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Needham & Company LLC downgraded shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Finally, HC Wainwright downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. 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, Revance Therapeutics has an average rating of “Hold” and an average target price of $10.29.

Revance Therapeutics Stock Up 2.1 %

Shares of RVNC opened at $5.29 on Thursday. The business’s 50 day moving average is $5.99 and its two-hundred day moving average is $4.28. The firm has a market cap of $554.50 million, a price-to-earnings ratio of -1.66 and a beta of 0.98. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping the consensus estimate 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 firm posted ($0.80) EPS. Revance Therapeutics’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities analysts expect that Revance Therapeutics will post -1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of Revance Therapeutics by 16.8% during the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after buying an additional 2,006,459 shares during the last quarter. Vanguard Group Inc. increased its position in Revance Therapeutics by 6.5% in the 1st 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. Stonepine Capital Management LLC raised its stake in 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 in the last quarter. Federated Hermes Inc. boosted its position in Revance Therapeutics by 43.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after acquiring an additional 672,803 shares during the period. Finally, Opaleye Management Inc. acquired a new position in Revance Therapeutics during the 1st quarter worth $3,862,000. 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.