Revance Therapeutics (NASDAQ:RVNC) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report sent to investors on Monday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on the company. Guggenheim reaffirmed a neutral rating on shares of Revance Therapeutics in a report on Monday, August 12th. Piper Sandler downgraded shares of Revance Therapeutics from a strong-buy rating to a hold rating in a research note on Monday, August 12th. Needham & Company LLC cut shares of Revance Therapeutics from a moderate buy rating to a hold rating in a research note on Tuesday, August 13th. Stifel Nicolaus decreased 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. Finally, HC Wainwright lowered Revance Therapeutics from a strong-buy rating to a hold rating in a research report on Tuesday, August 13th. Ten investment 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.com, Revance Therapeutics has an average rating of Hold and an average price target of $10.50.

Revance Therapeutics Stock Performance

RVNC opened at $5.39 on Monday. The stock has a market capitalization of $562.98 million, a price-to-earnings ratio of -1.48 and a beta of 1.00. The company has a fifty day moving average of $5.42 and a 200 day moving average of $4.27. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $12.59.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data 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 firm had revenue of $65.39 million for the quarter, compared to analysts’ expectations of $66.30 million. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.80) EPS.

Institutional Trading of Revance Therapeutics

Several institutional investors have recently added to or reduced their stakes in RVNC. Capital World Investors raised its holdings in shares of Revance Therapeutics by 16.8% in the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after buying an additional 2,006,459 shares during the period. BNP Paribas Financial Markets increased its stake in Revance Therapeutics by 342.1% in the first quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock worth $1,042,000 after purchasing an additional 163,809 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Revance Therapeutics during the fourth quarter worth $93,000. Integral Health Asset Management LLC purchased a new stake in shares of Revance Therapeutics during the second quarter valued at $1,285,000. Finally, Vanguard Group Inc. grew its holdings in shares of Revance Therapeutics by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after purchasing an additional 328,781 shares during the last quarter. 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.