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

Research analysts at StockNews.com began coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report released on Tuesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on RVNC. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a report on Friday, January 17th. Barclays cut their price objective on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Monday, December 23rd. Finally, Mizuho reduced their target price on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Revance Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $8.39.

Revance Therapeutics Stock Performance

Shares of RVNC stock opened at $3.65 on Tuesday. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $6.65. The firm has a market capitalization of $381.02 million, a PE ratio of -1.89 and a beta of 0.90. The stock’s 50-day simple moving average is $3.60 and its 200-day simple moving average is $4.31.

Hedge Funds Weigh In On Revance Therapeutics

Several institutional investors have recently made changes to their positions in the company. Natixis acquired a new stake in Revance Therapeutics during the fourth quarter valued at $31,000. Two Sigma Securities LLC purchased a new stake in shares of Revance Therapeutics during the 4th quarter worth about $35,000. Alpine Global Management LLC acquired a new stake in shares of Revance Therapeutics during the 4th quarter valued at about $37,000. FORA Capital LLC acquired a new stake in shares of Revance Therapeutics during the 3rd quarter valued at about $54,000. Finally, RPO LLC purchased a new position in shares of Revance Therapeutics in the 4th quarter valued at about $55,000. 97.70% of the stock is owned by hedge funds and other 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.