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

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

RVNC has been the subject of several other reports. 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 report on Friday, August 9th. HC Wainwright downgraded Revance Therapeutics from a strong-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. William Blair reissued a market perform rating on shares of Revance Therapeutics in a report on Monday, August 12th. Finally, Needham & Company LLC cut shares of Revance Therapeutics from a moderate buy rating to a hold rating in a report on Tuesday, August 13th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $10.50.

Revance Therapeutics Price Performance

RVNC stock opened at $5.26 on Tuesday. The firm has a market cap of $551.35 million, a price-to-earnings ratio of -1.45 and a beta of 1.00. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $10.91. The firm has a fifty day moving average price of $5.58 and a two-hundred day moving average price of $4.25.

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

Institutional Investors Weigh In On Revance Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RVNC. Capital World Investors increased its stake in Revance Therapeutics by 16.8% during 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 period. BNP Paribas Financial Markets increased its stake in shares of Revance Therapeutics by 342.1% during the first quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock valued at $1,042,000 after acquiring an additional 163,809 shares during the period. Integral Health Asset Management LLC acquired a new position in shares of Revance Therapeutics during the second quarter valued at approximately $1,285,000. Vanguard Group Inc. raised its holdings in Revance Therapeutics by 6.5% during the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after purchasing an additional 328,781 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Revance Therapeutics in the first quarter worth approximately $457,000. 97.70% of the stock is currently owned by institutional investors.

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.