Revance Therapeutics (NASDAQ:RVNC) Now Covered by StockNews.com

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

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research report on Monday, October 28th. HC Wainwright lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Stifel Nicolaus reduced their price target on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Barclays reiterated an “equal weight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.29.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $5.80 on Friday. The business’s fifty day moving average price is $5.78 and its two-hundred day moving average price is $4.36. The firm has a market capitalization of $607.96 million, a price-to-earnings ratio of -1.82 and a beta of 0.95. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.12. The firm had revenue of $65.39 million during the quarter, compared to the consensus estimate of $66.30 million. Revance Therapeutics’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.80) EPS. As a group, research analysts forecast that Revance Therapeutics will post -1.53 EPS for the current year.

Institutional Trading of Revance Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its stake in Revance Therapeutics by 27.6% in the second quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 5,996 shares during the period. Sei Investments Co. grew its position in shares of Revance Therapeutics by 52.5% in the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 7,628 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Revance Therapeutics by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 7,890 shares during the period. California State Teachers Retirement System increased its stake in Revance Therapeutics by 9.8% during the 1st quarter. California State Teachers Retirement System now owns 97,493 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 8,668 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Revance Therapeutics by 29.4% in the second quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 9,601 shares in the last quarter. Institutional investors and hedge funds 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.