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

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

A number of other research analysts also recently commented on the company. Mizuho lowered their target price on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. HC Wainwright reissued a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Revance Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $8.96.

Revance Therapeutics Price Performance

Shares of RVNC opened at $3.09 on Friday. The firm has a market cap of $322.57 million, a P/E ratio of -1.60 and a beta of 0.81. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $9.74. The company has a 50 day simple moving average of $4.34 and a two-hundred day simple moving average of $4.49.

Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results 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 company had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $67.73 million. On average, sell-side analysts anticipate that Revance Therapeutics will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RVNC. LMR Partners LLP purchased a new position in shares of Revance Therapeutics in the 3rd quarter worth approximately $11,648,000. Integral Health Asset Management LLC acquired a new stake in Revance Therapeutics in the second quarter valued at approximately $1,285,000. Alpine Associates Management Inc. purchased a new position in Revance Therapeutics in the third quarter worth $21,605,000. Oddo BHF Asset Management Sas acquired a new position in shares of Revance Therapeutics during the third quarter worth $3,763,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Revance Therapeutics by 567.6% during the 2nd quarter. AQR Capital Management LLC now owns 201,080 shares of the biopharmaceutical company’s stock valued at $517,000 after purchasing an additional 170,960 shares during the last quarter. 97.70% of the stock is owned by 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.