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

Revance Therapeutics (NASDAQ:RVNC)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

Other equities research analysts have also recently issued research reports about the stock. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Barclays reaffirmed an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. HC Wainwright reaffirmed a “neutral” rating and issued a $6.60 price target on shares of Revance Therapeutics in a report on Friday. Finally, Piper Sandler lowered shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Revance Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $9.66.

Revance Therapeutics Stock Performance

NASDAQ:RVNC traded down $2.26 during trading hours on Friday, reaching $3.52. The company’s stock had a trading volume of 9,844,051 shares, compared to its average volume of 2,739,085. The company has a market capitalization of $368.97 million, a P/E ratio of -1.10 and a beta of 0.95. The stock has a 50 day moving average price of $5.72 and a two-hundred day moving average price of $4.42. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating 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 last year, the firm earned ($0.80) EPS. Revance Therapeutics’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, analysts predict that Revance Therapeutics will post -1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

Institutional investors have recently modified their holdings of the stock. LMR Partners LLP purchased a new stake in shares of Revance Therapeutics in the third quarter worth about $11,648,000. Accredited Investors Inc. acquired a new position in Revance Therapeutics in the third quarter valued at approximately $67,000. GSA Capital Partners LLP purchased a new stake in Revance Therapeutics in the 3rd quarter worth approximately $108,000. Rice Hall James & Associates LLC boosted its position in Revance Therapeutics by 2.5% in the 3rd quarter. Rice Hall James & Associates LLC now owns 730,190 shares of the biopharmaceutical company’s stock worth $3,790,000 after purchasing an additional 18,118 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of 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. 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.