Revance Therapeutics (NASDAQ:RVNC) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on the company. Stifel Nicolaus dropped their price target 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. Piper Sandler cut 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 issued a $7.00 price target (down from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Finally, HC Wainwright cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Revance Therapeutics currently has a consensus rating of “Hold” and an average target price of $10.50.

Revance Therapeutics Stock Performance

RVNC stock opened at $5.19 on Tuesday. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $11.49. The business’s 50 day moving average price is $5.49 and its two-hundred day moving average price is $4.24. The company has a market capitalization of $542.09 million, a price-to-earnings ratio of -1.43 and a beta of 1.00.

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

Hedge Funds Weigh In On Revance Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its stake in Revance Therapeutics by 27.6% during the 2nd quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 5,996 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Revance Therapeutics by 67.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,981 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 6,826 shares during the last quarter. Sei Investments Co. raised its stake in Revance Therapeutics by 52.5% during the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 7,628 shares during the last quarter. California State Teachers Retirement System raised its stake in Revance Therapeutics by 9.8% during the 1st quarter. California State Teachers Retirement System now owns 97,493 shares of the biopharmaceutical company’s stock valued at $480,000 after buying an additional 8,668 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Revance Therapeutics by 29.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 9,601 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

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.