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

StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note released on Sunday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently issued reports on RVNC. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Finally, Stifel Nicolaus cut their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.66.

Revance Therapeutics Stock Up 2.7 %

Shares of NASDAQ RVNC opened at $4.24 on Friday. The stock has a market capitalization of $444.78 million, a PE ratio of -2.20 and a beta of 0.95. The firm has a fifty day moving average of $5.55 and a 200-day moving average of $4.43. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $9.74.

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 analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million during the quarter, compared to analysts’ expectations of $67.73 million. Equities research analysts expect that Revance Therapeutics will post -1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RVNC. FMR LLC grew its stake in shares of Revance Therapeutics by 28.6% during the third quarter. FMR LLC now owns 214,596 shares of the biopharmaceutical company’s stock valued at $1,114,000 after acquiring an additional 47,768 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Revance Therapeutics in the third quarter valued at about $88,000. Algert Global LLC grew its stake in Revance Therapeutics by 1,167.3% during the 3rd quarter. Algert Global LLC now owns 126,730 shares of the biopharmaceutical company’s stock valued at $658,000 after purchasing an additional 116,730 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Revance Therapeutics by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 790,837 shares of the biopharmaceutical company’s stock worth $4,104,000 after purchasing an additional 41,250 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Revance Therapeutics in the 3rd quarter valued at approximately $231,000. 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.