Revance Therapeutics (NASDAQ:RVNC) Earns Hold Rating from Analysts at StockNews.com

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

Other equities research analysts have also recently issued research reports about the stock. Guggenheim reaffirmed a neutral rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Piper Sandler cut shares of Revance Therapeutics from a strong-buy rating to a hold rating in a research report on Monday, August 12th. Barclays reissued an equal weight rating and set a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Needham & Company LLC cut shares of Revance Therapeutics from a moderate buy rating to a hold rating in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus decreased their target price on shares of Revance Therapeutics from $24.00 to $20.00 and set a buy rating for the company in a research report on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Revance Therapeutics currently has a consensus rating of Hold and a consensus target price of $10.50.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $5.99 on Friday. The company has a 50 day moving average price of $5.24 and a 200-day moving average price of $4.29. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $14.24. The stock has a market capitalization of $625.65 million, a PE ratio of -1.65 and a beta of 1.00.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.12. The business had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. During the same period in the previous year, the company posted ($0.80) EPS. Revance Therapeutics’s revenue for the quarter was up 20.2% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RVNC. Certuity LLC purchased a new position in shares of Revance Therapeutics in the second quarter worth $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Revance Therapeutics in the second quarter worth $33,000. Hsbc Holdings PLC acquired a new stake in shares of Revance Therapeutics in the second quarter worth $38,000. Nisa Investment Advisors LLC increased its stake in shares of Revance Therapeutics by 2,167.5% in the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 18,077 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Revance Therapeutics by 52.5% in the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 7,628 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.