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

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

A number of other research analysts also recently commented on the stock. Barclays reaffirmed an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. HC Wainwright reiterated a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a report on Friday. Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. StockNews.com initiated coverage on Revance Therapeutics in a research report on Saturday, November 2nd. They issued a “hold” rating for the company. Finally, William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $9.66.

Revance Therapeutics Trading Down 39.1 %

Shares of NASDAQ:RVNC traded down $2.26 during mid-day trading on Friday, reaching $3.52. The stock had a trading volume of 9,844,051 shares, compared to its average volume of 2,739,085. The business’s 50 day moving average price is $5.72 and its 200 day moving average price is $4.42. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $9.74. The company has a market cap of $368.97 million, a P/E ratio of -1.10 and a beta of 0.95.

Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12. The firm had revenue of $65.39 million for the quarter, compared to the consensus estimate of $66.30 million. During the same quarter in the prior year, the company posted ($0.80) earnings per share. The firm’s revenue was up 20.2% compared to the same quarter last year. Analysts predict that Revance Therapeutics will post -1.53 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 RVNC. LMR Partners LLP purchased a new position in shares of Revance Therapeutics during the third quarter worth approximately $11,648,000. Accredited Investors Inc. purchased a new position in Revance Therapeutics during the 3rd quarter worth $67,000. GSA Capital Partners LLP bought a new stake in Revance Therapeutics during the 3rd quarter valued at $108,000. Rice Hall James & Associates LLC lifted its holdings in shares of 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 buying an additional 18,118 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position 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 buying an additional 7,890 shares in the last quarter. 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.