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

StockNews.com began coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report sent to investors on Sunday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on the stock. Needham & Company LLC downgraded shares of Revance Therapeutics from a moderate buy rating to a hold rating in a research note on Tuesday, August 13th. Guggenheim reiterated a neutral rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Barclays restated an equal weight rating and set a $7.00 price objective (down previously from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Piper Sandler downgraded Revance Therapeutics from a strong-buy rating to a hold rating in a research report on Monday, August 12th. Finally, William Blair restated a market perform rating on shares of Revance Therapeutics in a report on Monday, August 12th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $10.50.

Revance Therapeutics Stock Performance

Revance Therapeutics stock opened at $5.97 on Friday. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $16.98. The stock has a market capitalization of $623.04 million, a P/E ratio of -1.64 and a beta of 1.00. The stock has a fifty day moving average of $5.18 and a 200-day moving average of $4.28.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12. The business had revenue of $65.39 million during the quarter, compared to the consensus estimate of $66.30 million. The business’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.80) EPS.

Hedge Funds Weigh In On Revance Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Certuity LLC bought a new position in Revance Therapeutics during the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Revance Therapeutics during the second quarter worth $33,000. Hsbc Holdings PLC bought a new position in Revance Therapeutics during the second quarter worth $38,000. Nisa Investment Advisors LLC lifted its holdings in Revance Therapeutics by 2,167.5% in the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 18,077 shares during the period. Finally, Sei Investments Co. boosted its position in Revance Therapeutics by 52.5% during the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 7,628 shares during the last quarter. 97.70% of the stock is 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.