Revance Therapeutics (NASDAQ:RVNC) Earns Hold Rating from Analysts at StockNews.com

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

Several other equities analysts have also issued reports on RVNC. HC Wainwright reissued a “neutral” rating and issued a $6.60 price objective on shares of Revance Therapeutics in a research note on Friday, November 8th. Stifel Nicolaus cut their target price on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, Barclays reissued an “equal weight” rating and set a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.66.

Revance Therapeutics Stock Performance

Shares of NASDAQ RVNC opened at $3.61 on Tuesday. The stock has a 50 day moving average price of $4.92 and a 200 day moving average price of $4.43. The firm has a market capitalization of $378.69 million, a price-to-earnings ratio of -1.87 and a beta of 0.95. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) 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 analyst estimates of $67.73 million. Analysts forecast that Revance Therapeutics will post -1.54 earnings per share for the current year.

Hedge Funds Weigh In On Revance Therapeutics

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Revance Therapeutics by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock valued at $26,560,000 after buying an additional 328,781 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Revance Therapeutics by 28.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,361 shares of the biopharmaceutical company’s stock worth $342,000 after purchasing an additional 15,496 shares during the period. California State Teachers Retirement System increased its position in shares of Revance Therapeutics by 9.8% in the first quarter. California State Teachers Retirement System now owns 97,493 shares of the biopharmaceutical company’s stock valued at $480,000 after buying an additional 8,668 shares in the last quarter. Opaleye Management Inc. acquired a new position in shares of Revance Therapeutics during the 1st quarter worth approximately $3,862,000. Finally, DNB Asset Management AS raised its stake in shares of Revance Therapeutics by 25.4% during the 2nd quarter. DNB Asset Management AS now owns 60,229 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 12,201 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

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.