Revance Therapeutics (NASDAQ:RVNC) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report released on Sunday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on the company. Barclays reaffirmed an equal weight rating and set a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a report on Friday. Needham & Company LLC lowered Revance Therapeutics from a moderate buy rating to a hold rating in a report on Tuesday, August 13th. Guggenheim reaffirmed a neutral rating on shares of Revance Therapeutics in a report on Monday, August 12th. Piper Sandler lowered Revance Therapeutics from a strong-buy rating to a hold rating in a report on Monday, August 12th. Finally, Stifel Nicolaus reduced their price objective on Revance Therapeutics from $24.00 to $20.00 and set a buy rating for the company in a research report on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $10.50.

Revance Therapeutics Stock Down 0.2 %

Shares of Revance Therapeutics stock opened at $6.55 on Friday. The firm has a market cap of $686.57 million, a P/E ratio of -1.80 and a beta of 1.00. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $17.59. The business has a 50-day moving average price of $5.05 and a 200 day moving average price of $4.29.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.12. The firm had revenue of $65.39 million during the quarter, compared to the consensus estimate of $66.30 million. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.80) earnings per share.

Institutional Investors Weigh In On Revance Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Capital World Investors lifted its position in Revance Therapeutics by 16.8% in the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after purchasing an additional 2,006,459 shares during the period. Vanguard Group Inc. lifted its position in Revance Therapeutics by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after purchasing an additional 328,781 shares during the period. Stonepine Capital Management LLC lifted its position in 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 purchasing an additional 823,658 shares during the period. Federated Hermes Inc. lifted its position in Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after purchasing an additional 672,803 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Revance Therapeutics by 251.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,147,294 shares of the biopharmaceutical company’s stock worth $10,085,000 after purchasing an additional 820,587 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.