Revance Therapeutics (NASDAQ:RVNC) Now Covered by 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.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Revance Therapeutics has a consensus rating of “Hold” and an average price target of $8.45.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $3.65 on Tuesday. The firm’s 50-day moving average price is $3.65 and its 200-day moving average price is $3.72. The firm has a market capitalization of $381.02 million, a price-to-earnings ratio of -1.89 and a beta of 0.90. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $6.65.

Institutional Investors Weigh In On Revance Therapeutics

Several hedge funds have recently bought and sold shares of RVNC. FNY Investment Advisers LLC boosted its stake in Revance Therapeutics by 160.4% during the fourth quarter. FNY Investment Advisers LLC now owns 477,823 shares of the biopharmaceutical company’s stock worth $1,452,000 after acquiring an additional 294,323 shares in the last quarter. Inspire Investing LLC raised its holdings in Revance Therapeutics by 69.0% in the fourth quarter. Inspire Investing LLC now owns 131,892 shares of the biopharmaceutical company’s stock worth $401,000 after buying an additional 53,837 shares during the last quarter. Deltec Asset Management LLC purchased a new position in Revance Therapeutics in the fourth quarter worth about $304,000. Rhumbline Advisers raised its holdings in Revance Therapeutics by 5.1% in the fourth quarter. Rhumbline Advisers now owns 142,603 shares of the biopharmaceutical company’s stock worth $434,000 after buying an additional 6,885 shares during the last quarter. Finally, New York Life Investment Management LLC raised its holdings in Revance Therapeutics by 114.9% in the fourth quarter. New York Life Investment Management LLC now owns 295,670 shares of the biopharmaceutical company’s stock worth $899,000 after buying an additional 158,076 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

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.