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

Investment analysts at StockNews.com assumed coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report released on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on RVNC. William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Stifel Nicolaus decreased their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 9th. HC Wainwright cut shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Mizuho reduced their price target on shares of Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Finally, Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.88.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $6.57 on Friday. The firm has a fifty day moving average price of $4.25 and a 200-day moving average price of $4.23. The firm has a market capitalization of $686.23 million, a P/E ratio of -1.81 and a beta of 0.98. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $18.34.

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, beating the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. During the same period last year, the firm earned ($0.80) earnings per share. Revance Therapeutics’s quarterly revenue was up 20.2% on a year-over-year basis. Analysts predict that Revance Therapeutics will post -1.57 earnings per share for the current year.

Institutional Trading of Revance Therapeutics

Several hedge funds have recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Revance Therapeutics in the fourth quarter valued at approximately $84,000. Certuity LLC purchased a new stake in Revance Therapeutics in the second quarter valued at $26,000. Victory Capital Management Inc. acquired a new position in shares of Revance Therapeutics in the 4th quarter valued at $93,000. HighPoint Advisor Group LLC purchased a new position in shares of Revance Therapeutics during the 4th quarter worth $98,000. Finally, Clarity Capital Partners LLC acquired a new stake in shares of Revance Therapeutics during the 1st quarter worth about $59,000. Hedge funds and other institutional investors 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.