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

StockNews.com started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on RVNC. Stifel Nicolaus reduced their price target 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. Needham & Company LLC downgraded shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.50.

Revance Therapeutics Price Performance

NASDAQ:RVNC opened at $5.50 on Monday. The firm has a market capitalization of $573.95 million, a price-to-earnings ratio of -1.51 and a beta of 1.00. The company’s 50-day moving average is $5.39 and its two-hundred day moving average is $4.26. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $13.12.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share 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 analyst estimates of $66.30 million. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.80) earnings per share.

Institutional Investors Weigh In On Revance Therapeutics

Large investors have recently modified their holdings of the company. Capital World Investors increased its position in shares of Revance Therapeutics by 16.8% in the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after purchasing an additional 2,006,459 shares during the last quarter. BNP Paribas Financial Markets boosted 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 valued at $1,042,000 after buying an additional 163,809 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Revance Therapeutics in the 4th quarter valued at $93,000. Integral Health Asset Management LLC acquired a new position in shares of Revance Therapeutics in the 2nd quarter valued at $1,285,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Revance Therapeutics by 6.5% in 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. 97.70% of the stock is 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.