Revance Therapeutics (NASDAQ:RVNC) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a research note released on Friday,Benzinga reports.

Several other equities analysts have also commented on the company. HC Wainwright reissued a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a report on Friday, November 8th. Barclays dropped 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. Mizuho decreased their target price 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, StockNews.com started coverage on shares of Revance Therapeutics in a research note on Monday, January 13th. They issued a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.39.

Revance Therapeutics Stock Performance

Shares of Revance Therapeutics stock opened at $3.68 on Friday. The business has a 50-day simple moving average of $3.46 and a 200-day simple moving average of $4.54. Revance Therapeutics has a one year low of $2.30 and a one year high of $7.56. The company has a market cap of $384.16 million, a PE ratio of -1.91 and a beta of 0.86.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. On average, sell-side analysts predict that Revance Therapeutics will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in shares of Revance Therapeutics by 52.5% during the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 7,628 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Revance Therapeutics by 64.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 7,890 shares during the period. The Manufacturers Life Insurance Company grew its position in Revance Therapeutics by 29.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 9,601 shares during the last quarter. FORA Capital LLC purchased a new position in Revance Therapeutics during the 3rd quarter worth $54,000. Finally, Creative Planning acquired a new position in Revance Therapeutics in the third quarter valued at $56,000. Hedge funds and other 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.