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

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

Several other brokerages also recently issued reports on RVNC. William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Stifel Nicolaus dropped their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. HC Wainwright reissued a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research report on Friday, November 8th. Barclays reaffirmed an “equal weight” rating and set a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Finally, Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.66.

Revance Therapeutics Trading Down 6.0 %

Shares of Revance Therapeutics stock opened at $3.78 on Tuesday. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $9.74. The stock has a market cap of $396.52 million, a price-to-earnings ratio of -1.96 and a beta of 0.95. The company has a fifty day moving average price of $4.96 and a 200 day moving average price of $4.43.

Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $59.88 million during the quarter, compared to the consensus estimate of $67.73 million. Analysts forecast that Revance Therapeutics will post -1.54 earnings per share for the current year.

Hedge Funds Weigh In On Revance Therapeutics

Several large investors have recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new stake in shares of Revance Therapeutics during the third quarter worth $11,648,000. Integral Health Asset Management LLC acquired a new stake in Revance Therapeutics during the second quarter worth about $1,285,000. Vanguard Group Inc. raised its stake in Revance Therapeutics by 6.5% during the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after acquiring an additional 328,781 shares during the period. Alpine Associates Management Inc. bought a new position in Revance Therapeutics in the third quarter worth about $21,605,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Revance Therapeutics by 28.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,361 shares of the biopharmaceutical company’s stock valued at $342,000 after acquiring an additional 15,496 shares during the period. 97.70% of the stock is currently owned by institutional investors.

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.