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

StockNews.com started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note published on Friday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Several other research analysts also recently weighed in on RVNC. Needham & Company LLC downgraded shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. HC Wainwright downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, Barclays restated 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. Nine 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.com, the company currently has a consensus rating of “Hold” and an average target price of $10.29.

Revance Therapeutics Stock Down 11.3 %

RVNC opened at $4.70 on Friday. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $9.74. The company has a 50 day moving average of $5.85 and a two-hundred day moving average of $4.31. The company has a market cap of $492.65 million, a P/E ratio of -1.47 and a beta of 0.98.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its holdings in shares of Revance Therapeutics by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 7,890 shares during the period. Creative Planning acquired a new stake in shares of Revance Therapeutics during the third quarter worth $56,000. SG Americas Securities LLC acquired a new stake in shares of Revance Therapeutics during the third quarter worth $399,000. Stonepine Capital Management LLC raised its holdings in shares of 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 period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Revance Therapeutics by 29.4% during the second quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 9,601 shares during the period. 97.70% of the stock is currently owned by 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.