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

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

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

Revance Therapeutics Price Performance

RVNC opened at $3.65 on Tuesday. The firm has a 50 day moving average price of $3.65 and a 200-day moving average price of $3.72. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $6.65. The stock has a market capitalization of $381.02 million, a price-to-earnings ratio of -1.89 and a beta of 0.90.

Institutional Trading of Revance Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVNC. FNY Investment Advisers LLC increased its holdings 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 valued at $1,452,000 after buying an additional 294,323 shares during the last quarter. Inspire Investing LLC increased its holdings in Revance Therapeutics by 69.0% during the fourth quarter. Inspire Investing LLC now owns 131,892 shares of the biopharmaceutical company’s stock valued at $401,000 after buying an additional 53,837 shares during the last quarter. Deltec Asset Management LLC purchased a new stake in Revance Therapeutics during the fourth quarter valued at approximately $304,000. Rhumbline Advisers increased its holdings in Revance Therapeutics by 5.1% during the fourth quarter. Rhumbline Advisers now owns 142,603 shares of the biopharmaceutical company’s stock valued at $434,000 after buying an additional 6,885 shares during the last quarter. Finally, New York Life Investment Management LLC increased its holdings in Revance Therapeutics by 114.9% during the fourth quarter. New York Life Investment Management LLC now owns 295,670 shares of the biopharmaceutical company’s stock valued at $899,000 after buying an additional 158,076 shares during the last quarter. 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.