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

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

Several other research firms also recently weighed in on RVNC. HC Wainwright restated a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a research report on Friday, November 8th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Barclays reaffirmed an “equal weight” rating and set a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Piper Sandler downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus dropped their price objective on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Revance Therapeutics currently has a consensus rating of “Hold” and an average target price of $9.66.

Revance Therapeutics Stock Performance

NASDAQ:RVNC opened at $3.84 on Monday. The stock has a market capitalization of $402.82 million, a PE ratio of -1.99 and a beta of 0.95. Revance Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $9.74. The company has a fifty day moving average of $5.24 and a two-hundred day moving average of $4.44.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The company had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $67.73 million. Research analysts forecast that Revance Therapeutics will post -1.54 earnings per share for the current year.

Hedge Funds Weigh In On Revance Therapeutics

A number of institutional investors have recently bought and sold shares of RVNC. Virtu Financial LLC purchased a new stake in shares of Revance Therapeutics in the 3rd quarter valued at approximately $120,000. Wellington Management Group LLP purchased a new position in Revance Therapeutics in the third quarter worth approximately $2,315,000. State Street Corp grew its position in Revance Therapeutics by 6.6% in the third quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock worth $12,632,000 after acquiring an additional 150,323 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Revance Therapeutics by 11.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,210 shares of the biopharmaceutical company’s stock worth $1,376,000 after acquiring an additional 27,420 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in Revance Therapeutics in the third quarter valued at $54,000. 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.