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

Research analysts at StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other analysts have also commented on the company. Stifel Nicolaus decreased their target price on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 9th. HC Wainwright reaffirmed a “neutral” rating and set a $6.60 target price on shares of Revance Therapeutics in a research report on Friday, November 8th. Barclays reiterated an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, Guggenheim reaffirmed 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.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.66.

Revance Therapeutics Stock Up 5.1 %

Shares of RVNC stock opened at $3.92 on Wednesday. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $9.74. The firm has a 50 day moving average of $4.86 and a 200-day moving average of $4.46. The company has a market cap of $411.21 million, a price-to-earnings ratio of -2.03 and a beta of 0.81.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) 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 analyst estimates of $67.73 million. Analysts anticipate that Revance Therapeutics will post -1.54 earnings per share for the current year.

Hedge Funds Weigh In On Revance Therapeutics

Hedge funds have recently bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new position in shares of Revance Therapeutics during the third quarter valued at about $3,763,000. Virtu Financial LLC purchased a new stake in Revance Therapeutics in the 3rd quarter valued at about $120,000. Wellington Management Group LLP bought a new position in shares of Revance Therapeutics during the 3rd quarter worth approximately $2,315,000. State Street Corp boosted its stake in shares of Revance Therapeutics by 6.6% in the 3rd quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock worth $12,632,000 after buying an additional 150,323 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Revance Therapeutics by 11.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,210 shares of the biopharmaceutical company’s stock valued at $1,376,000 after acquiring an additional 27,420 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other 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.