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

Analysts at StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note issued to investors on Sunday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently weighed in on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $6.60 price target on shares of Revance Therapeutics in a research note on Friday, November 8th. Mizuho lowered their target price on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, Barclays dropped their target price on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a report on Monday, December 23rd. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.39.

Revance Therapeutics Price Performance

Shares of NASDAQ RVNC opened at $3.47 on Friday. The stock has a fifty day moving average price of $3.91 and a 200 day moving average price of $4.51. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $7.59. The company has a market cap of $362.23 million, a PE ratio of -1.80 and a beta of 0.86.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) 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. Analysts anticipate that Revance Therapeutics will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Revance Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. LMR Partners LLP purchased a new position in Revance Therapeutics in the third quarter valued at about $11,648,000. Integral Health Asset Management LLC purchased a new position in shares of Revance Therapeutics in the second quarter valued at $1,285,000. Oddo BHF Asset Management Sas purchased a new stake in Revance Therapeutics during the 3rd quarter worth $3,763,000. Alpine Associates Management Inc. purchased a new position in Revance Therapeutics in the 3rd quarter valued at about $21,605,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Revance Therapeutics during the third quarter valued at about $2,315,000. 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.