Revance Therapeutics (NASDAQ:RVNC) Now Covered by Analysts at StockNews.com

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

A number of other brokerages have also weighed in on RVNC. Stifel Nicolaus lowered their target price on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 9th. HC Wainwright restated a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a research note on Friday, November 8th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th. Finally, Piper Sandler cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.66.

Revance Therapeutics Price Performance

Revance Therapeutics stock opened at $4.17 on Wednesday. The stock has a fifty day moving average price of $4.83 and a two-hundred day moving average price of $4.45. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $9.74. The firm has a market capitalization of $437.44 million, a P/E ratio of -2.16 and a beta of 0.82.

Revance Therapeutics (NASDAQ:RVNC) last announced 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 firm had revenue of $59.88 million during the quarter, compared to the consensus estimate of $67.73 million. On average, equities research analysts predict that Revance Therapeutics will post -1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alpine Associates Management Inc. acquired a new stake in shares of Revance Therapeutics during the third quarter worth about $21,605,000. LMR Partners LLP acquired a new stake in shares of Revance Therapeutics during the third quarter worth about $11,648,000. Stonepine Capital Management LLC raised its position in shares of Revance Therapeutics by 41.7% during the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after purchasing an additional 823,658 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of Revance Therapeutics during the third quarter worth about $3,763,000. Finally, Federated Hermes Inc. raised its position in shares of Revance Therapeutics by 43.0% during the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after purchasing an additional 672,803 shares during the period. 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.