StockNews.com Begins Coverage on Revance Therapeutics (NASDAQ:RVNC)

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

Several other brokerages also recently commented on RVNC. Mizuho lowered their target price on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a report on Friday, January 17th. HC Wainwright restated a “neutral” rating and set a $6.60 price target on shares of Revance Therapeutics in a report on Friday, November 8th. Finally, Barclays reduced their price target on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a report on Monday, December 23rd. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Revance Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $8.39.

Revance Therapeutics Stock Performance

Shares of NASDAQ RVNC opened at $3.65 on Friday. The company has a market cap of $381.02 million, a price-to-earnings ratio of -1.89 and a beta of 0.90. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $7.56. The stock has a 50-day moving average price of $3.50 and a two-hundred day moving average price of $4.50.

Institutional Trading of Revance Therapeutics

Several institutional investors have recently added to or reduced their stakes in RVNC. Beryl Capital Management LLC bought a new stake in Revance Therapeutics in the fourth quarter valued at approximately $18,042,000. Alpine Associates Management Inc. bought a new stake in Revance Therapeutics in the third quarter valued at approximately $21,605,000. LMR Partners LLP bought a new stake in Revance Therapeutics in the third quarter valued at approximately $11,648,000. Newtyn Management LLC bought a new stake in Revance Therapeutics in the fourth quarter valued at approximately $5,502,000. Finally, Millennium Management LLC boosted its holdings in Revance Therapeutics by 1,028.2% in the fourth quarter. Millennium Management LLC now owns 1,551,372 shares of the biopharmaceutical company’s stock valued at $4,716,000 after acquiring an additional 1,413,862 shares during the last quarter. 97.70% of the stock is currently owned by 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.