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

StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note issued to investors on Tuesday. The firm issued a hold rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently issued reports on RVNC. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Piper Sandler lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Finally, Stifel Nicolaus dropped their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Nine equities research 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 $9.66.

Revance Therapeutics Price Performance

Shares of NASDAQ:RVNC opened at $3.78 on Tuesday. The firm has a market capitalization of $396.52 million, a price-to-earnings ratio of -1.96 and a beta of 0.95. The business’s 50 day simple moving average is $4.96 and its 200-day simple moving average is $4.43. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS 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, equities analysts anticipate that Revance Therapeutics will post -1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RVNC. Alpine Associates Management Inc. purchased a new stake in Revance Therapeutics in the third quarter valued at approximately $21,605,000. LMR Partners LLP purchased a new stake in shares of Revance Therapeutics during the 3rd quarter valued at $11,648,000. Stonepine Capital Management LLC grew its stake in shares of Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after buying an additional 823,658 shares during the period. Opaleye Management Inc. purchased a new position in shares of Revance Therapeutics in the 1st quarter worth $3,862,000. Finally, Federated Hermes Inc. raised its position in shares of Revance Therapeutics by 43.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after buying an additional 672,803 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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.