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

StockNews.com assumed 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 research firms have also commented on RVNC. Mizuho dropped their price target on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Barclays cut their price target on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Monday, December 23rd. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a report on Friday, January 17th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research report on Friday, November 8th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Revance Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $8.39.

Revance Therapeutics Price Performance

Revance Therapeutics stock opened at $3.67 on Tuesday. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $7.56. The firm has a market capitalization of $383.11 million, a price-to-earnings ratio of -1.90 and a beta of 0.86. The company’s 50 day simple moving average is $3.44 and its 200 day simple moving average is $4.57.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. As a group, analysts predict that Revance Therapeutics will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alpine Associates Management Inc. bought a new position in shares of Revance Therapeutics in the 3rd quarter valued at about $21,605,000. LMR Partners LLP bought a new position in Revance Therapeutics in the third quarter valued at approximately $11,648,000. Stonepine Capital Management LLC increased its position in shares of Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after purchasing an additional 823,658 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Revance Therapeutics during the 3rd quarter worth approximately $3,763,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Revance Therapeutics in the 3rd quarter valued at approximately $2,315,000. 97.70% of the stock is currently 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.