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

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

Other analysts have also recently issued research reports about the stock. Barclays decreased 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 research note on Monday, December 23rd. Mizuho decreased their target price on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a report on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Price Performance

Shares of NASDAQ:RVNC opened at $3.65 on Tuesday. The company’s 50 day simple moving average is $3.61 and its 200 day simple moving average is $4.29. The stock 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 1 year low of $2.30 and a 1 year high of $6.65.

Hedge Funds Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of RVNC. Beryl Capital Management LLC acquired a new position in Revance Therapeutics in the fourth quarter valued at $18,042,000. Alpine Associates Management Inc. acquired a new position in Revance Therapeutics in the third quarter valued at $21,605,000. Newtyn Management LLC acquired a new position in Revance Therapeutics in the fourth quarter valued at $5,502,000. Millennium Management LLC lifted its holdings in Revance Therapeutics by 1,028.2% in the fourth quarter. Millennium Management LLC now owns 1,551,372 shares of the biopharmaceutical company’s stock valued at $4,716,000 after buying an additional 1,413,862 shares during the period. Finally, CIBRA Capital Ltd acquired a new position in Revance Therapeutics in the fourth quarter valued at $3,466,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Revance Therapeutics Company Profile

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.