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

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

A number of other equities analysts also recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a report on Friday, January 17th. Mizuho lowered their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Barclays lowered their price objective on 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. Finally, HC Wainwright restated a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.39.

Revance Therapeutics Price Performance

Shares of NASDAQ:RVNC opened at $3.65 on Friday. The company’s 50-day moving average is $3.36 and its 200 day moving average is $4.57. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $7.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. LMR Partners LLP purchased a new position in shares of Revance Therapeutics during the third quarter worth about $11,648,000. Alpine Associates Management Inc. purchased a new position in shares of Revance Therapeutics during the third quarter worth about $21,605,000. Oddo BHF Asset Management Sas purchased a new stake in Revance Therapeutics in the third quarter worth approximately $3,763,000. FNY Investment Advisers LLC boosted its stake in Revance Therapeutics by 160.4% in the fourth quarter. FNY Investment Advisers LLC now owns 477,823 shares of the biopharmaceutical company’s stock worth $1,452,000 after buying an additional 294,323 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Revance Therapeutics in the third quarter worth approximately $2,315,000. 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.