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

StockNews.com started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Several other analysts have also weighed in on the stock. Mizuho lowered their target price on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. Finally, Barclays cut their target price on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a report on Monday, December 23rd. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Stock Performance

Shares of NASDAQ RVNC opened at $3.65 on Thursday. The company has a market capitalization of $381.02 million, a price-to-earnings ratio of -1.89 and a beta of 0.90. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $6.65. The business has a 50 day simple moving average of $3.65 and a 200-day simple moving average of $4.06.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Natixis acquired a new stake in shares of Revance Therapeutics in the fourth quarter valued at approximately $31,000. Two Sigma Securities LLC bought a new position in Revance Therapeutics in the 4th quarter worth approximately $35,000. Alpine Global Management LLC acquired a new stake in Revance Therapeutics in the 4th quarter valued at approximately $37,000. RPO LLC acquired a new stake in Revance Therapeutics in the 4th quarter valued at approximately $55,000. Finally, Fairfax Financial Holdings Ltd. Can bought a new stake in Revance Therapeutics during the 4th quarter valued at $64,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.