Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives Average Rating of “Hold” from Analysts

Revance Therapeutics, Inc. (NASDAQ:RVNC) has been assigned an average rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $8.39.

A number of equities research analysts have weighed in on the company. Barclays decreased their price objective 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. StockNews.com started coverage on Revance Therapeutics in a research report on Monday, March 10th. They issued a “hold” rating on the stock. Mizuho dropped their price objective 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, January 17th.

Revance Therapeutics Stock Performance

Shares of Revance Therapeutics stock opened at $3.65 on Monday. The firm has a market cap of $381.02 million, a P/E ratio of -1.89 and a beta of 0.90. The firm’s 50-day simple moving average is $3.59 and its 200-day simple moving average is $4.33. Revance Therapeutics has a twelve month low of $2.30 and a twelve month high of $7.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beryl Capital Management LLC bought a new position in shares of Revance Therapeutics in the fourth quarter worth about $18,042,000. Alpine Associates Management Inc. bought a new stake in shares of Revance Therapeutics during the third quarter valued at approximately $21,605,000. LMR Partners LLP acquired a new stake in shares of Revance Therapeutics in the third quarter valued at approximately $11,648,000. Newtyn Management LLC bought a new position in Revance Therapeutics in the 4th quarter worth approximately $5,502,000. Finally, Millennium Management LLC lifted its holdings in Revance Therapeutics by 1,028.2% during the 4th quarter. Millennium Management LLC now owns 1,551,372 shares of the biopharmaceutical company’s stock worth $4,716,000 after buying an additional 1,413,862 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.