Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives Average Rating of “Hold” from Brokerages

Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) have received an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $8.39.

RVNC has been the topic of several research analyst reports. HC Wainwright restated a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research report on Friday, November 8th. StockNews.com began coverage on Revance Therapeutics in a report on Wednesday. They issued a “hold” rating on the stock. Barclays dropped their price target on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, December 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. Finally, Mizuho dropped their target price on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a research report on Tuesday, December 10th.

Hedge Funds Weigh In On Revance Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. LMR Partners LLP bought a new stake in Revance Therapeutics in the third quarter worth $11,648,000. Alpine Associates Management Inc. bought a new position in Revance Therapeutics during the third quarter valued at $21,605,000. Oddo BHF Asset Management Sas bought a new stake in shares of Revance Therapeutics in the 3rd quarter worth about $3,763,000. FNY Investment Advisers LLC boosted its stake in shares of Revance Therapeutics by 160.4% during the 4th quarter. FNY Investment Advisers LLC now owns 477,823 shares of the biopharmaceutical company’s stock worth $1,452,000 after purchasing an additional 294,323 shares during the period. Finally, Wellington Management Group LLP bought a new position in Revance Therapeutics during the 3rd quarter valued at about $2,315,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Trading Down 0.3 %

Revance Therapeutics stock opened at $3.63 on Friday. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $7.56. The firm has a market capitalization of $378.94 million, a price-to-earnings ratio of -1.88 and a beta of 0.86. The firm has a 50 day moving average of $3.41 and a 200 day moving average of $4.59.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data 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 firm had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $67.73 million. On average, analysts predict that Revance Therapeutics will post -1.57 EPS for the current year.

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.