Revance Therapeutics (NASDAQ:RVNC) Coverage Initiated at StockNews.com

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

RVNC has been the topic of a number of other reports. Stifel Nicolaus cut their target price on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC cut Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th. William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. HC Wainwright downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Barclays restated an “equal weight” rating and issued a $7.00 price target (down from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.50.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $5.26 on Wednesday. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $10.31. The firm has a market capitalization of $551.35 million, a P/E ratio of -1.45 and a beta of 0.98. The company has a 50-day simple moving average of $5.74 and a 200-day simple moving average of $4.26.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million for the quarter, compared to the consensus estimate of $66.30 million. During the same quarter last year, the business earned ($0.80) EPS. Revance Therapeutics’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, equities analysts forecast that Revance Therapeutics will post -1.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RVNC. Nebula Research & Development LLC acquired a new position in Revance Therapeutics during the 4th quarter worth approximately $926,000. Sierra Summit Advisors LLC acquired a new position in shares of Revance Therapeutics during the fourth quarter worth $760,000. HighPoint Advisor Group LLC bought a new stake in shares of Revance Therapeutics in the fourth quarter worth $98,000. Los Angeles Capital Management LLC bought a new stake in shares of Revance Therapeutics in the first quarter worth $457,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Revance Therapeutics by 67.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 16,981 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 6,826 shares during the period. Institutional investors own 97.70% of the company’s stock.

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.