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

Stock analysts at StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

RVNC has been the topic of a number of other research reports. Mizuho cut their price target on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. HC Wainwright reissued a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a report on Friday, January 17th. Finally, Barclays dropped their price objective on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a report on Monday, December 23rd. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.39.

Revance Therapeutics Price Performance

Shares of RVNC opened at $3.65 on Tuesday. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $7.56. The stock has a 50 day simple moving average of $3.46 and a two-hundred day simple moving average of $4.58. The firm has a market cap of $381.02 million, a P/E ratio of -1.89 and a beta of 0.86.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Alpine Associates Management Inc. bought a new stake in Revance Therapeutics in the 3rd quarter worth about $21,605,000. Stonepine Capital Management LLC grew its stake in shares of Revance Therapeutics by 41.7% in the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after acquiring an additional 823,658 shares during the period. State Street Corp raised its holdings in shares of Revance Therapeutics by 6.6% during the third quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock valued at $12,632,000 after purchasing an additional 150,323 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Revance Therapeutics during the third quarter valued at approximately $11,648,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Revance Therapeutics by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 790,837 shares of the biopharmaceutical company’s stock valued at $4,104,000 after purchasing an additional 41,250 shares during the period. 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.