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

Equities researchers at StockNews.com assumed coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report issued on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

RVNC has been the subject of a number of other research reports. Stifel Nicolaus cut their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Barclays reiterated an “equal weight” rating and set a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. HC Wainwright lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Needham & Company LLC downgraded Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.29.

Revance Therapeutics Price Performance

Shares of NASDAQ RVNC opened at $4.70 on Friday. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $9.74. The stock has a market capitalization of $492.65 million, a price-to-earnings ratio of -1.47 and a beta of 0.98. The business has a 50-day moving average of $5.85 and a 200-day moving average of $4.30.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping the consensus estimate 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. During the same period last year, the firm earned ($0.80) EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, sell-side analysts expect that Revance Therapeutics will post -1.53 EPS for the current year.

Institutional Trading of Revance Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in shares of Revance Therapeutics by 16.8% during the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after buying an additional 2,006,459 shares in the last quarter. Vanguard Group Inc. raised its stake in Revance Therapeutics by 6.5% in the 1st 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 in the last quarter. Stonepine Capital Management LLC boosted its holdings in Revance Therapeutics by 41.7% in the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after purchasing an additional 823,658 shares during the period. Federated Hermes Inc. grew its position in shares of Revance Therapeutics by 43.0% during the 2nd 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 in the last quarter. Finally, Opaleye Management Inc. bought a new position in shares of Revance Therapeutics during the first quarter worth approximately $3,862,000. 97.70% of the stock is currently 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.