Revance Therapeutics (NASDAQ:RVNC) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report sent to investors on Tuesday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on RVNC. HC Wainwright cut Revance Therapeutics from a strong-buy rating to a hold rating in a report on Tuesday, August 13th. Stifel Nicolaus cut their price target on Revance Therapeutics from $24.00 to $20.00 and set a buy rating on the stock in a report on Friday, August 9th. Guggenheim restated a neutral rating on shares of Revance Therapeutics in a report on Monday, August 12th. William Blair restated a market perform rating on shares of Revance Therapeutics in a report on Monday, August 12th. Finally, Piper Sandler cut Revance Therapeutics from a strong-buy rating to a hold rating in a report on Monday, August 12th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $10.50.

Revance Therapeutics Stock Performance

NASDAQ:RVNC opened at $5.20 on Tuesday. The company has a market capitalization of $545.06 million, a PE ratio of -1.43 and a beta of 1.00. The company has a 50 day simple moving average of $5.51 and a two-hundred day simple moving average of $4.24. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $11.49.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results 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 firm had revenue of $65.39 million for the quarter, compared to analyst estimates of $66.30 million. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.80) EPS. Research analysts predict that Revance Therapeutics will post -1.53 EPS for the current year.

Hedge Funds Weigh In On Revance Therapeutics

A number of large investors have recently modified their holdings of the company. Arizona State Retirement System lifted its holdings in shares of Revance Therapeutics by 27.6% in the 2nd quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 5,996 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Revance Therapeutics by 67.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,981 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 6,826 shares in the last quarter. Sei Investments Co. lifted its stake in Revance Therapeutics by 52.5% during the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 7,628 shares in the last quarter. California State Teachers Retirement System lifted its stake in Revance Therapeutics by 9.8% during the 1st quarter. California State Teachers Retirement System now owns 97,493 shares of the biopharmaceutical company’s stock valued at $480,000 after acquiring an additional 8,668 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in 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 acquiring an additional 9,601 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

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.