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

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

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus dropped their price target on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Barclays reiterated an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Finally, HC Wainwright downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.50.

Revance Therapeutics Stock Down 0.2 %

NASDAQ:RVNC opened at $5.19 on Tuesday. The stock’s 50 day moving average price is $5.55 and its 200 day moving average price is $4.25. The company has a market capitalization of $544.02 million, a PE ratio of -1.43 and a beta of 1.00. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $11.18.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. The firm had revenue of $65.39 million for the quarter, compared to analysts’ expectations of $66.30 million. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.80) EPS. As a group, sell-side analysts anticipate that Revance Therapeutics will post -1.53 EPS for the current fiscal year.

Institutional Trading of Revance Therapeutics

A number of institutional investors have recently modified their holdings of RVNC. Capital World Investors boosted its stake in shares of Revance Therapeutics by 16.8% in the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after buying an additional 2,006,459 shares in the last quarter. Stonepine Capital Management LLC raised its holdings in Revance Therapeutics by 41.7% during the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after purchasing an additional 823,658 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Revance Therapeutics by 251.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock worth $10,085,000 after purchasing an additional 820,587 shares during the last quarter. Opaleye Management Inc. acquired a new position in Revance Therapeutics during the first quarter worth $3,862,000. Finally, Federated Hermes Inc. raised its holdings in Revance Therapeutics by 43.0% during the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after purchasing an additional 672,803 shares during the last quarter. 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.