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

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

Other analysts also recently issued research reports about the stock. Barclays reiterated an “equal weight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. HC Wainwright reiterated a “neutral” rating and set a $6.60 price objective on shares of Revance Therapeutics in a research report on Friday, November 8th. Stifel Nicolaus cut their target price on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Piper Sandler lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. Nine equities research 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, the stock has an average rating of “Hold” and a consensus target price of $9.66.

Revance Therapeutics Price Performance

Shares of Revance Therapeutics stock opened at $3.61 on Tuesday. The business has a 50 day simple moving average of $4.92 and a two-hundred day simple moving average of $4.43. The stock has a market capitalization of $378.69 million, a P/E ratio of -1.87 and a beta of 0.95. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. As a group, research analysts anticipate that Revance Therapeutics will post -1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Revance Therapeutics in the 3rd quarter valued at about $120,000. Wellington Management Group LLP purchased a new stake in shares of Revance Therapeutics in the 3rd quarter valued at approximately $2,315,000. State Street Corp raised its holdings in shares of Revance Therapeutics by 6.6% in the 3rd quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock valued at $12,632,000 after purchasing an additional 150,323 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Revance Therapeutics by 11.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,210 shares of the biopharmaceutical company’s stock worth $1,376,000 after purchasing an additional 27,420 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of Revance Therapeutics during the 3rd quarter worth $54,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Revance Therapeutics Company Profile

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.