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

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

RVNC has been the topic of several other reports. HC Wainwright reissued a “neutral” rating and issued a $6.60 price target on shares of Revance Therapeutics in a research note on Friday, November 8th. Barclays decreased their target price on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Monday, December 23rd. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. Finally, Mizuho reduced their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.39.

Revance Therapeutics Price Performance

Shares of Revance Therapeutics stock opened at $3.66 on Thursday. The business has a 50 day simple moving average of $3.39 and a two-hundred day simple moving average of $4.58. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $7.56.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Revance Therapeutics will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RVNC. LMR Partners LLP purchased a new position in shares of Revance Therapeutics during the 3rd quarter worth $11,648,000. Alpine Associates Management Inc. acquired a new position in Revance Therapeutics in the third quarter valued at about $21,605,000. Oddo BHF Asset Management Sas purchased a new position in Revance Therapeutics during the third quarter worth about $3,763,000. FNY Investment Advisers LLC increased its position in shares of Revance Therapeutics by 160.4% during the fourth quarter. FNY Investment Advisers LLC now owns 477,823 shares of the biopharmaceutical company’s stock valued at $1,452,000 after acquiring an additional 294,323 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Revance Therapeutics in the 3rd quarter valued at approximately $2,315,000. Institutional investors and hedge funds 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.