Revance Therapeutics (NASDAQ:RVNC) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a research report sent to investors on Monday, Benzinga reports.

A number of other brokerages also recently issued reports on RVNC. HC Wainwright cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. StockNews.com started coverage on shares of Revance Therapeutics in a research report on Friday. They issued a “hold” rating for the company. Stifel Nicolaus reduced their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Barclays restated an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.29.

Revance Therapeutics Price Performance

NASDAQ:RVNC opened at $5.90 on Monday. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $9.74. The business has a 50 day moving average of $5.85 and a 200 day moving average of $4.30. The company has a market capitalization of $618.44 million, a price-to-earnings ratio of -1.86 and a beta of 0.98.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. During the same quarter in the prior year, the firm posted ($0.80) EPS. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Revance Therapeutics will post -1.53 EPS for the current year.

Hedge Funds Weigh In On Revance Therapeutics

Large investors have recently made changes to their positions in the business. Certuity LLC bought a new position in Revance Therapeutics during the 2nd quarter valued at approximately $26,000. Creative Planning bought a new position in shares of Revance Therapeutics during the third quarter valued at $56,000. Clarity Capital Partners LLC purchased a new position in shares of Revance Therapeutics in the 1st quarter worth about $59,000. Vanguard Personalized Indexing Management LLC bought a new position in Revance Therapeutics in the 2nd quarter worth about $33,000. Finally, Hsbc Holdings PLC purchased a new stake in Revance Therapeutics during the 2nd quarter valued at about $38,000. 97.70% of the stock is currently 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.