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

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

A number of other brokerages have also recently issued reports on RVNC. HC Wainwright reaffirmed a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Mizuho dropped their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Finally, Barclays reduced their target price on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a report on Monday, December 23rd. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Revance Therapeutics presently has an average rating of “Hold” and a consensus price target of $8.39.

Revance Therapeutics Stock Down 4.1 %

Shares of RVNC opened at $3.25 on Monday. The stock’s fifty day simple moving average is $3.66 and its 200-day simple moving average is $4.54. The firm has a market capitalization of $339.27 million, a PE ratio of -1.68 and a beta of 0.86. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $7.56.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. Analysts anticipate that Revance Therapeutics will post -1.57 EPS for the current year.

Institutional Investors Weigh In On Revance Therapeutics

Hedge funds have recently modified their holdings of the business. LMR Partners LLP acquired a new position in shares of Revance Therapeutics in the 3rd quarter valued at approximately $11,648,000. Integral Health Asset Management LLC bought a new stake in shares of Revance Therapeutics during the second quarter worth $1,285,000. Oddo BHF Asset Management Sas acquired a new stake in shares of Revance Therapeutics during the third quarter worth $3,763,000. Alpine Associates Management Inc. acquired a new stake in shares of Revance Therapeutics during the third quarter worth $21,605,000. Finally, Wellington Management Group LLP bought a new stake in Revance Therapeutics in the 3rd quarter valued at $2,315,000. Institutional investors and hedge funds 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.