Revance Therapeutics (NASDAQ:RVNC) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Revance Therapeutics (NASDAQ:RVNC) in a report published on Sunday. The firm 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 report on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.39.

Revance Therapeutics Stock Performance

Revance Therapeutics stock opened at $3.65 on Friday. The company has a fifty day simple moving average of $3.65 and a 200-day simple moving average of $3.83. The stock has a market cap of $381.02 million, a P/E ratio of -1.89 and a beta of 0.90. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $6.65.

Hedge Funds Weigh In On Revance Therapeutics

Several hedge funds have recently made changes to their positions in RVNC. Beryl Capital Management LLC purchased a new stake in shares of Revance Therapeutics in the 4th quarter valued at about $18,042,000. Newtyn Management LLC acquired a new position in Revance Therapeutics during the fourth quarter worth approximately $5,502,000. Millennium Management LLC lifted its stake in Revance Therapeutics by 1,028.2% in the fourth quarter. Millennium Management LLC now owns 1,551,372 shares of the biopharmaceutical company’s stock valued at $4,716,000 after buying an additional 1,413,862 shares during the last quarter. CIBRA Capital Ltd acquired a new stake in shares of Revance Therapeutics in the fourth quarter valued at approximately $3,466,000. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Revance Therapeutics during the third quarter worth approximately $3,763,000. Hedge funds and other institutional investors 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.