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

StockNews.com assumed coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report released on Saturday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on RVNC. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research report on Monday, October 28th. HC Wainwright lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, Barclays reissued an “equal weight” rating and set a $7.00 price target (down from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.29.

Revance Therapeutics Stock Up 0.5 %

Shares of NASDAQ RVNC opened at $5.84 on Friday. The firm has a market capitalization of $612.17 million, a P/E ratio of -1.83 and a beta of 0.95. The stock’s 50-day simple moving average is $5.75 and its two-hundred day simple moving average is $4.40. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last announced 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 company had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. During the same period in the prior year, the business earned ($0.80) earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, research analysts anticipate that Revance Therapeutics will post -1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RVNC. GSA Capital Partners LLP bought a new stake in Revance Therapeutics in the 3rd quarter worth $108,000. Rice Hall James & Associates LLC boosted its holdings in shares of Revance Therapeutics by 2.5% during the third quarter. Rice Hall James & Associates LLC now owns 730,190 shares of the biopharmaceutical company’s stock worth $3,790,000 after purchasing an additional 18,118 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Revance Therapeutics by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 7,890 shares during the last quarter. Creative Planning purchased a new position in Revance Therapeutics during the 3rd quarter valued at about $56,000. Finally, SG Americas Securities LLC bought a new position in Revance Therapeutics during the 3rd quarter valued at approximately $399,000. 97.70% of the stock is 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.