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

Revance Therapeutics, Inc. (NASDAQ:RVNC) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $8.39.

Several equities research analysts recently issued reports on the stock. StockNews.com started coverage on shares of Revance Therapeutics in a research report on Saturday. They set a “hold” rating for the company. Barclays cut their price target on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a report on Monday, December 23rd. Mizuho decreased their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. HC Wainwright reissued a “neutral” rating and set a $6.60 target price on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th.

Hedge Funds Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RVNC. Alpine Associates Management Inc. purchased a new stake in shares of Revance Therapeutics during the third quarter worth $21,605,000. Stonepine Capital Management LLC increased its holdings in Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after purchasing an additional 823,658 shares during the period. State Street Corp raised its position in Revance Therapeutics by 6.6% in the 3rd quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock valued at $12,632,000 after purchasing an additional 150,323 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Revance Therapeutics in the 3rd quarter valued at about $11,648,000. Finally, Federated Hermes Inc. grew its position in shares of Revance Therapeutics by 43.0% during the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after buying an additional 672,803 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Price Performance

RVNC stock opened at $3.04 on Wednesday. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $9.74. The firm has a market capitalization of $317.35 million, a PE ratio of -1.58 and a beta of 0.81. The business has a 50 day simple moving average of $4.04 and a 200-day simple moving average of $4.50.

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

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.