Revance Therapeutics (NASDAQ:RVNC) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report issued on Thursday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the stock. HC Wainwright cut shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Stifel Nicolaus lowered their target price on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, Needham & Company LLC cut shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.29.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $5.28 on Thursday. The company has a 50-day simple moving average of $5.91 and a 200-day simple moving average of $4.27. The firm has a market capitalization of $551.49 million, a P/E ratio of -1.45 and a beta of 0.98. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $9.90.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12. The company had revenue of $65.39 million for the quarter, compared to analyst estimates of $66.30 million. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.80) EPS. As a group, equities analysts forecast that Revance Therapeutics will post -1.53 earnings per share for the current year.

Institutional Trading of Revance Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in Revance Therapeutics by 27.6% during the second quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 5,996 shares during the last quarter. Sei Investments Co. lifted its position in shares of Revance Therapeutics by 52.5% during the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 7,628 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Revance Therapeutics by 9.8% in the first quarter. California State Teachers Retirement System now owns 97,493 shares of the biopharmaceutical company’s stock valued at $480,000 after purchasing an additional 8,668 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Revance Therapeutics by 29.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 9,601 shares during the last quarter. Finally, Certuity LLC bought a new position in Revance Therapeutics in the 2nd quarter worth approximately $26,000. 97.70% of the stock is owned by institutional investors.

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.