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

Stock analysts at StockNews.com started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on the stock. HC Wainwright reissued a “neutral” rating and set a $6.60 target price on shares of Revance Therapeutics in a research report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. Mizuho lowered their target price on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Finally, Barclays lowered their target price on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, December 23rd. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.39.

Revance Therapeutics Trading Down 0.3 %

NASDAQ RVNC opened at $3.63 on Wednesday. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $7.56. The company has a market capitalization of $378.94 million, a PE ratio of -1.88 and a beta of 0.86. The firm’s fifty day simple moving average is $3.41 and its 200-day simple moving average is $4.59.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly 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 firm had revenue of $59.88 million for the quarter, compared to analyst estimates of $67.73 million. As a group, analysts predict that Revance Therapeutics will post -1.57 EPS for the current year.

Institutional Investors Weigh In On Revance Therapeutics

Hedge funds have recently made changes to their positions in the stock. FORA Capital LLC bought a new stake in shares of Revance Therapeutics in the third quarter valued at about $54,000. Creative Planning bought a new stake in shares of Revance Therapeutics in the third quarter valued at about $56,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Revance Therapeutics in the second quarter valued at about $33,000. Accredited Investors Inc. bought a new stake in shares of Revance Therapeutics in the third quarter valued at about $67,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Revance Therapeutics in the second quarter valued at about $38,000. 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.