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

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

A number of other equities analysts have also commented on RVNC. Barclays dropped 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 report on Monday, December 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Price Performance

NASDAQ RVNC opened at $3.65 on Friday. The stock has a market capitalization of $381.02 million, a PE ratio of -1.89 and a beta of 0.90. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $6.65. The company has a 50 day moving average price of $3.65 and a two-hundred day moving average price of $3.98.

Institutional Investors Weigh In On Revance Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of RVNC. Charles Schwab Investment Management Inc. boosted its position in shares of Revance Therapeutics by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 790,837 shares of the biopharmaceutical company’s stock valued at $4,104,000 after acquiring an additional 41,250 shares in the last quarter. FMR LLC boosted its holdings in Revance Therapeutics by 28.6% during the third quarter. FMR LLC now owns 214,596 shares of the biopharmaceutical company’s stock valued at $1,114,000 after purchasing an additional 47,768 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Revance Therapeutics by 11.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,210 shares of the biopharmaceutical company’s stock valued at $1,376,000 after purchasing an additional 27,420 shares in the last quarter. State Street Corp grew its stake in shares of Revance Therapeutics by 6.6% in the 3rd 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 period. Finally, Wellington Management Group LLP acquired a new position in shares of Revance Therapeutics in the 3rd quarter worth approximately $2,315,000. 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.