Revance Therapeutics’ (RVNC) “Hold” Rating Reiterated at Needham & Company LLC

Revance Therapeutics (NASDAQ:RVNC)‘s stock had its “hold” rating reissued by Needham & Company LLC in a report issued on Friday,Benzinga reports.

Other analysts have also recently issued reports about the stock. StockNews.com initiated coverage on shares of Revance Therapeutics in a research note on Monday. They issued a “hold” rating on the stock. Mizuho decreased their target price on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. HC Wainwright reiterated a “neutral” rating and set a $6.60 price target on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Barclays lowered their target price on shares of Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Monday, December 23rd. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.39.

Revance Therapeutics Price Performance

Shares of RVNC traded up $0.37 during mid-day trading on Friday, hitting $3.64. The stock had a trading volume of 9,034,298 shares, compared to its average volume of 3,617,855. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $7.56. The business has a fifty day moving average price of $3.46 and a 200-day moving average price of $4.53. The firm has a market cap of $379.46 million, a P/E ratio of -1.88 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. As a group, research analysts expect 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 large investors have recently modified their holdings of RVNC. Bank of New York Mellon Corp lifted its holdings in Revance Therapeutics by 22.5% in the second quarter. Bank of New York Mellon Corp now owns 373,015 shares of the biopharmaceutical company’s stock worth $959,000 after buying an additional 68,451 shares during the period. Rhumbline Advisers raised its position in shares of Revance Therapeutics by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 136,347 shares of the biopharmaceutical company’s stock worth $350,000 after acquiring an additional 14,191 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Revance Therapeutics by 53.1% in the 2nd quarter. Renaissance Technologies LLC now owns 572,000 shares of the biopharmaceutical company’s stock valued at $1,470,000 after purchasing an additional 198,300 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Revance Therapeutics during the second quarter valued at approximately $33,000. Finally, Hsbc Holdings PLC purchased a new stake in Revance Therapeutics in the second quarter worth $38,000. 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.