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

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

Several other analysts have also recently issued reports on RVNC. Mizuho dropped their target price on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Barclays cut their price target on shares of 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. HC Wainwright reiterated a “neutral” rating and set a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.39.

Revance Therapeutics Stock Performance

RVNC opened at $3.66 on Thursday. The business has a fifty day moving average of $3.39 and a 200 day moving average of $4.58. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $7.56.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data 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 company had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. On average, analysts expect that Revance Therapeutics will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alpine Associates Management Inc. acquired a new position in shares of Revance Therapeutics in the 3rd quarter valued at about $21,605,000. State Street Corp lifted its holdings in Revance Therapeutics by 6.6% in the third quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock valued at $12,632,000 after acquiring an additional 150,323 shares during the period. LMR Partners LLP purchased a new stake in Revance Therapeutics in the 3rd quarter worth approximately $11,648,000. Charles Schwab Investment Management Inc. grew its stake in shares of Revance Therapeutics by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 797,299 shares of the biopharmaceutical company’s stock worth $2,424,000 after purchasing an additional 6,462 shares during the period. Finally, Rice Hall James & Associates LLC grew its stake in shares of Revance Therapeutics by 2.5% during the 3rd quarter. Rice Hall James & Associates LLC now owns 730,190 shares of the biopharmaceutical company’s stock worth $3,790,000 after purchasing an additional 18,118 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

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.