Revance Therapeutics (NASDAQ:RVNC) Coverage Initiated by Analysts at StockNews.com

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

Several other equities research analysts have also commented on the company. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research report on Friday, January 17th. Barclays cut 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 issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Price Performance

RVNC stock opened at $3.65 on Friday. The firm has a market cap of $381.02 million, a price-to-earnings ratio of -1.89 and a beta of 0.90. The company’s fifty day simple moving average is $3.65 and its 200 day simple moving average is $3.95. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $6.65.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC raised its holdings in shares of Revance Therapeutics by 7.5% in the 4th quarter. MetLife Investment Management LLC now owns 60,514 shares of the biopharmaceutical company’s stock worth $184,000 after acquiring an additional 4,235 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Revance Therapeutics by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 797,299 shares of the biopharmaceutical company’s stock worth $2,424,000 after purchasing an additional 6,462 shares in the last quarter. Rhumbline Advisers raised its stake in shares of 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 purchasing an additional 6,885 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Revance Therapeutics by 12.6% in the fourth quarter. Invesco Ltd. now owns 63,537 shares of the biopharmaceutical company’s stock valued at $193,000 after purchasing an additional 7,125 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Revance Therapeutics by 8.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 103,915 shares of the biopharmaceutical company’s stock valued at $316,000 after buying an additional 7,839 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.