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

Equities research analysts at StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report issued on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Several other analysts also recently commented on RVNC. HC Wainwright reaffirmed a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a report on Friday, January 17th. Barclays reduced their price objective on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, December 23rd. Finally, Mizuho lowered their target price on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research note 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, Revance Therapeutics has a consensus rating of “Hold” and an average price target of $8.39.

Revance Therapeutics Price Performance

Shares of NASDAQ RVNC opened at $3.65 on Friday. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $7.56. The business’s 50 day moving average price is $3.36 and its 200 day moving average price is $4.57. The firm has a market cap of $381.02 million, a P/E ratio of -1.89 and a beta of 0.90.

Institutional Investors Weigh In On Revance Therapeutics

A number of institutional investors have recently modified their holdings of the business. LMR Partners LLP acquired a new position in Revance Therapeutics in the 3rd quarter worth about $11,648,000. Alpine Associates Management Inc. purchased a new stake in shares of Revance Therapeutics in the third quarter valued at approximately $21,605,000. Oddo BHF Asset Management Sas acquired a new position in shares of Revance Therapeutics during the 3rd quarter worth approximately $3,763,000. FNY Investment Advisers LLC lifted its position in shares of Revance Therapeutics by 160.4% during the 4th quarter. FNY Investment Advisers LLC now owns 477,823 shares of the biopharmaceutical company’s stock valued at $1,452,000 after buying an additional 294,323 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Revance Therapeutics in the 3rd quarter valued at $2,315,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Revance Therapeutics Company Profile

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.