Revance Therapeutics (NASDAQ:RVNC) Earns Hold Rating from Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note issued to investors on Sunday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other research analysts have also issued reports on RVNC. HC Wainwright reissued a “neutral” rating and set a $6.60 target price on shares of Revance Therapeutics in a research note on Friday, November 8th. Mizuho cut their price objective on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Barclays dropped their price target 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.39.

Revance Therapeutics Trading Up 12.3 %

RVNC stock opened at $3.47 on Friday. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $7.59. The stock’s 50 day simple moving average is $3.91 and its 200 day simple moving average is $4.51. The firm has a market cap of $362.23 million, a P/E ratio of -1.80 and a beta of 0.86.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The company had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $67.73 million. On average, research analysts forecast that Revance Therapeutics will post -1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Alpine Associates Management Inc. purchased a new position in Revance Therapeutics during the 3rd quarter valued at about $21,605,000. LMR Partners LLP acquired a new position in Revance Therapeutics in the 3rd quarter valued at approximately $11,648,000. Stonepine Capital Management LLC lifted its position in Revance Therapeutics by 41.7% in the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after buying an additional 823,658 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Revance Therapeutics during the 3rd quarter valued at $3,763,000. Finally, Federated Hermes Inc. increased its stake in shares of Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after acquiring an additional 672,803 shares during the last quarter. Hedge funds and other 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.