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

Stock analysts at StockNews.com assumed coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report issued on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently weighed in on RVNC. Barclays lowered their price objective on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, December 23rd. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a report on Friday, January 17th. Finally, Mizuho dropped their price target on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Revance Therapeutics presently has a consensus rating of “Hold” and an average target price of $8.39.

Revance Therapeutics Stock Performance

RVNC opened at $3.65 on Wednesday. The company’s 50-day simple moving average is $3.64 and its two-hundred day simple moving average is $4.19. The stock has a market capitalization of $381.02 million, a P/E ratio of -1.89 and a beta of 0.90. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $6.65.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC lifted its position in Revance Therapeutics by 7.5% during the fourth quarter. MetLife Investment Management LLC now owns 60,514 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 4,235 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Revance Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 797,299 shares of the biopharmaceutical company’s stock worth $2,424,000 after buying an additional 6,462 shares during the period. Rhumbline Advisers lifted its position in shares of Revance Therapeutics by 5.1% during the 4th quarter. Rhumbline Advisers now owns 142,603 shares of the biopharmaceutical company’s stock valued at $434,000 after buying an additional 6,885 shares in the last quarter. Invesco Ltd. grew its stake in shares of Revance Therapeutics by 12.6% during the 4th quarter. Invesco Ltd. now owns 63,537 shares of the biopharmaceutical company’s stock valued at $193,000 after acquiring an additional 7,125 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Revance Therapeutics by 8.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 103,915 shares of the biopharmaceutical company’s stock valued at $316,000 after acquiring an additional 7,839 shares during the period. 97.70% of the stock is currently owned by hedge funds and other 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.