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

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

RVNC has been the topic of several other reports. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. HC Wainwright downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Stifel Nicolaus lowered 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. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a report on Monday, October 28th. Finally, William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Revance Therapeutics currently has a consensus rating of “Hold” and an average price target of $10.29.

Revance Therapeutics Stock Performance

RVNC stock opened at $5.84 on Friday. The firm has a market capitalization of $612.17 million, a price-to-earnings ratio of -1.83 and a beta of 0.95. The firm has a 50 day moving average price of $5.75 and a 200-day moving average price of $4.40. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million during the quarter, compared to the consensus estimate of $66.30 million. During the same period last year, the firm posted ($0.80) earnings per share. The company’s revenue was up 20.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Revance Therapeutics will post -1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RVNC. Certuity LLC bought a new position in Revance Therapeutics in the second quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Revance Therapeutics in the 2nd quarter worth approximately $33,000. Hsbc Holdings PLC purchased a new position in shares of Revance Therapeutics in the second quarter worth approximately $38,000. Nisa Investment Advisors LLC grew its position in Revance Therapeutics by 2,167.5% during the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 18,077 shares during the period. Finally, Creative Planning bought a new stake in Revance Therapeutics during the third quarter valued at approximately $56,000. 97.70% of the stock is currently owned by hedge funds and other 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.