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

Stock analysts at StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

RVNC has been the topic of several other reports. Mizuho lowered their target price on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Barclays lowered their price objective on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Monday, December 23rd. HC Wainwright reiterated a “neutral” rating and set a $6.60 target price on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Stock Performance

Shares of RVNC stock opened at $3.06 on Friday. The firm has a market cap of $319.43 million, a price-to-earnings ratio of -1.59 and a beta of 0.81. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $9.74. The firm’s 50-day simple moving average is $4.12 and its two-hundred day simple moving average is $4.50.

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 the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. Analysts forecast that Revance Therapeutics will post -1.57 earnings per share for the current year.

Hedge Funds Weigh In On Revance Therapeutics

Large investors have recently modified their holdings of the company. Arizona State Retirement System increased its holdings in Revance Therapeutics by 27.6% during the 2nd quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 5,996 shares during the period. Sei Investments Co. grew its position in shares of Revance Therapeutics by 52.5% during the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 7,628 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Revance Therapeutics by 64.3% in 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. The Manufacturers Life Insurance Company raised its position in shares of Revance Therapeutics by 29.4% in the second quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 9,601 shares in the last quarter. Finally, Certuity LLC bought a new stake in Revance Therapeutics during the second quarter valued at $26,000. 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.