Revance Therapeutics (NASDAQ:RVNC) Coverage Initiated by Analysts at StockNews.com

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

RVNC has been the topic of a number of other reports. Needham & Company LLC lowered Revance Therapeutics from a moderate buy rating to a hold rating in a report on Tuesday, August 13th. Guggenheim reissued a neutral rating on shares of Revance Therapeutics in a research note on Monday, August 12th. William Blair restated a market perform rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Piper Sandler cut shares of Revance Therapeutics from a strong-buy rating to a hold rating in a report on Monday, August 12th. Finally, Stifel Nicolaus lowered their price objective on shares of Revance Therapeutics from $24.00 to $20.00 and set a buy rating on the stock in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Revance Therapeutics currently has an average rating of Hold and a consensus price target of $10.50.

Revance Therapeutics Stock Down 0.8 %

Shares of NASDAQ RVNC opened at $5.22 on Tuesday. The firm’s 50-day moving average price is $5.61 and its two-hundred day moving average price is $4.26. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $10.91. The stock has a market capitalization of $545.22 million, a P/E ratio of -1.44 and a beta of 0.98.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. The company had revenue of $65.39 million for the quarter, compared to the consensus estimate of $66.30 million. Revance Therapeutics’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.80) earnings per share. As a group, equities research analysts expect that Revance Therapeutics will post -1.53 earnings per share for the current year.

Hedge Funds Weigh In On Revance Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Capital World Investors increased its position in shares of Revance Therapeutics by 16.8% in the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after acquiring an additional 2,006,459 shares in the last quarter. Stonepine Capital Management LLC grew its position 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 worth $7,196,000 after purchasing an additional 823,658 shares in the last quarter. CIBC Asset Management Inc raised its stake in Revance Therapeutics by 251.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock valued at $10,085,000 after purchasing an additional 820,587 shares during the period. Opaleye Management Inc. purchased a new stake in shares of Revance Therapeutics in the first quarter valued at $3,862,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after purchasing an additional 672,803 shares in the last quarter. Hedge funds and other 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.