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

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

RVNC has been the subject of several other research reports. Barclays reaffirmed an “equal weight” rating and set a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. 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. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a 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, Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.66.

Revance Therapeutics Trading Down 4.3 %

RVNC stock opened at $3.99 on Monday. The firm’s 50-day moving average is $5.41 and its two-hundred day moving average is $4.45. The company has a market capitalization of $418.56 million, a price-to-earnings ratio of -2.16 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 released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $59.88 million during the quarter, compared to analysts’ expectations of $67.73 million. On average, equities research analysts predict that Revance Therapeutics will post -1.54 earnings per share for the current year.

Institutional Trading of Revance Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of RVNC. Capital World Investors lifted its stake in Revance Therapeutics by 16.8% in the 1st 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. Integral Health Asset Management LLC purchased a new stake in shares of Revance Therapeutics in the second quarter worth approximately $1,285,000. Vanguard Group Inc. boosted its holdings in shares of Revance Therapeutics by 6.5% during the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after purchasing an additional 328,781 shares during the period. LMR Partners LLP purchased a new position in Revance Therapeutics during the third quarter valued at approximately $11,648,000. Finally, Blair William & Co. IL increased its stake in Revance Therapeutics by 3.6% in the 1st quarter. Blair William & Co. IL now owns 329,267 shares of the biopharmaceutical company’s stock valued at $1,620,000 after buying an additional 11,318 shares during the period. 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.