Revance Therapeutics (NASDAQ:RVNC) Coverage Initiated by Analysts at StockNews.com

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

Several other research analysts have also weighed in on the stock. Piper Sandler lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Barclays reiterated an “equal weight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Stifel Nicolaus dropped their price objective on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, HC Wainwright lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Nine research 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, the company currently has an average rating of “Hold” and a consensus price target of $10.29.

Revance Therapeutics Trading Down 1.7 %

NASDAQ RVNC opened at $5.80 on Friday. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $9.74. The stock has a market cap of $607.96 million, a price-to-earnings ratio of -1.82 and a beta of 0.95. The company has a 50-day moving average price of $5.78 and a two-hundred day moving average price of $4.37.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. The company had revenue of $65.39 million during the quarter, compared to analyst estimates of $66.30 million. During the same period in the prior year, the company posted ($0.80) earnings per share. The company’s revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts expect that Revance Therapeutics will post -1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RVNC. Capital World Investors grew its stake in Revance Therapeutics by 16.8% in the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after buying an additional 2,006,459 shares during the last quarter. Stonepine Capital Management LLC boosted its holdings 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 valued at $7,196,000 after purchasing an additional 823,658 shares during the period. Opaleye Management Inc. bought a new stake in Revance Therapeutics in the 1st quarter valued at $3,862,000. Federated Hermes Inc. boosted its holdings in Revance Therapeutics by 43.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after purchasing an additional 672,803 shares during the period. Finally, Integral Health Asset Management LLC bought a new stake in Revance Therapeutics in the 2nd quarter valued at $1,285,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.