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

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

Other equities research analysts have also recently issued reports about the stock. Mizuho reduced their price target on shares of 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 set a $6.60 price objective on shares of Revance Therapeutics in a research report on Friday, November 8th. Barclays decreased their target price on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research report on Monday, December 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and one has assigned 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 price target of $8.39.

Revance Therapeutics Price Performance

Shares of Revance Therapeutics stock opened at $3.09 on Friday. The firm has a market cap of $322.57 million, a price-to-earnings ratio of -1.60 and a beta of 0.86. The stock’s 50-day moving average is $3.91 and its 200 day moving average is $4.50. Revance Therapeutics has a one year low of $2.30 and a one year high of $8.98.

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 analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $59.88 million during the quarter, compared to analysts’ expectations of $67.73 million. On average, sell-side analysts expect that Revance Therapeutics will post -1.57 EPS for the current fiscal year.

Institutional Trading of Revance Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVNC. Exome Asset Management LLC bought a new position in shares of Revance Therapeutics in the third quarter valued at approximately $1,804,000. Oddo BHF Asset Management Sas purchased a new stake in Revance Therapeutics in the 3rd quarter valued at $3,763,000. Virtu Financial LLC bought a new position in Revance Therapeutics during the 3rd quarter valued at $120,000. Wellington Management Group LLP purchased a new position in Revance Therapeutics during the 3rd quarter worth $2,315,000. Finally, State Street Corp boosted its holdings in Revance Therapeutics by 6.6% during the 3rd quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock worth $12,632,000 after acquiring an additional 150,323 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

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.