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

Research analysts at StockNews.com began coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

RVNC has been the subject of several other reports. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. HC Wainwright reissued a “neutral” rating and set a $6.60 price target on shares of Revance Therapeutics in a research report on Friday. Stifel Nicolaus reduced their price objective on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.66.

Revance Therapeutics Price Performance

NASDAQ:RVNC opened at $3.45 on Friday. Revance Therapeutics has a one year low of $2.30 and a one year high of $9.74. The company has a market cap of $361.63 million, a PE ratio of -1.93 and a beta of 0.95. The firm’s 50 day simple moving average is $5.66 and its 200 day simple moving average is $4.43.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates 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. Equities research analysts expect that Revance Therapeutics will post -1.53 EPS for the current year.

Hedge Funds Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital World Investors grew 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 worth $68,612,000 after purchasing an additional 2,006,459 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Revance Therapeutics by 342.1% in the 1st quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock worth $1,042,000 after buying an additional 163,809 shares during the last quarter. Integral Health Asset Management LLC bought a new position in shares of Revance Therapeutics in the 2nd quarter worth $1,285,000. Vanguard Group Inc. raised its position in shares of Revance Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after buying an additional 328,781 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Revance Therapeutics by 3.6% during the 1st quarter. Blair William & Co. IL now owns 329,267 shares of the biopharmaceutical company’s stock worth $1,620,000 after acquiring an additional 11,318 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other 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.