Revance Therapeutics (NASDAQ:RVNC) Earns Hold Rating from Analysts at StockNews.com

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

A number of other brokerages have also recently issued reports on RVNC. William Blair reissued a market perform rating on shares of Revance Therapeutics in a report on Monday, August 12th. HC Wainwright lowered shares of Revance Therapeutics from a strong-buy rating to a hold rating in a research report on Tuesday, August 13th. Stifel Nicolaus decreased their target price on shares of Revance Therapeutics from $24.00 to $20.00 and set a buy rating on the stock in a report on Friday, August 9th. Mizuho lowered their target price on shares of Revance Therapeutics from $9.00 to $8.00 and set a neutral rating on the stock in a research note on Friday, May 10th. Finally, The Goldman Sachs Group reduced their price target on shares of Revance Therapeutics from $9.00 to $8.00 and set a neutral rating for the company in a research report on Monday, May 13th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $10.88.

Revance Therapeutics Price Performance

RVNC opened at $6.57 on Friday. The firm has a 50-day moving average price of $4.25 and a 200-day moving average price of $4.24. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $18.34. The company has a market capitalization of $686.23 million, a price-to-earnings ratio of -1.81 and a beta of 0.98.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12. The business had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.80) earnings per share. On average, sell-side analysts expect that Revance Therapeutics will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Revance Therapeutics

A number of hedge funds have recently made changes to their positions in RVNC. Stonepine Capital Management LLC increased its stake 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 valued at $7,196,000 after acquiring an additional 823,658 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Revance Therapeutics by 29.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 9,601 shares during the last quarter. Daymark Wealth Partners LLC raised its holdings in shares of Revance Therapeutics by 65.2% during the 2nd quarter. Daymark Wealth Partners LLC now owns 76,000 shares of the biopharmaceutical company’s stock valued at $195,000 after buying an additional 30,000 shares in the last quarter. AQR Capital Management LLC lifted its position in Revance Therapeutics by 567.6% in the 2nd quarter. AQR Capital Management LLC now owns 201,080 shares of the biopharmaceutical company’s stock worth $517,000 after buying an additional 170,960 shares during the last quarter. Finally, Integral Health Asset Management LLC purchased a new stake in Revance Therapeutics in the second quarter worth approximately $1,285,000. 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.