Revance Therapeutics (NASDAQ:RVNC) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note released on Tuesday. 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 cut shares of Revance Therapeutics from a moderate buy rating to a hold rating in a research note on Tuesday, August 13th. Piper Sandler lowered shares of Revance Therapeutics from a strong-buy rating to a hold rating in a research note on Monday, August 12th. William Blair reissued a market perform rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Barclays restated an equal weight rating and set a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Finally, Stifel Nicolaus decreased their price target on Revance Therapeutics from $24.00 to $20.00 and set a buy rating for the company in a research note on Friday, August 9th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $10.50.

Revance Therapeutics Trading Down 0.8 %

RVNC opened at $5.22 on Tuesday. The stock has a fifty day moving average price of $5.61 and a 200 day moving average price of $4.26. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $10.91. The stock has a market cap of $545.22 million, a price-to-earnings ratio of -1.44 and a beta of 0.98.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results 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 firm had revenue of $65.39 million for the quarter, compared to analyst estimates of $66.30 million. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.80) earnings per share. As a group, sell-side analysts forecast that Revance Therapeutics will post -1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors lifted its position in shares of Revance Therapeutics by 16.8% during the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after purchasing an additional 2,006,459 shares during the last quarter. Stonepine Capital Management LLC grew its holdings in Revance Therapeutics by 41.7% in the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after buying an additional 823,658 shares during the last quarter. CIBC Asset Management Inc increased its position in Revance Therapeutics by 251.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock worth $10,085,000 after buying an additional 820,587 shares during the period. Opaleye Management Inc. acquired a new position in shares of Revance Therapeutics during the first quarter worth approximately $3,862,000. Finally, Federated Hermes Inc. boosted its position in shares of Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after acquiring an additional 672,803 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

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.