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

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

Several other research analysts have also recently issued reports on the stock. HC Wainwright reiterated a “neutral” rating and set a $6.60 target price on shares of Revance Therapeutics in a report on Friday, November 8th. Barclays reduced their target price on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, December 23rd. Mizuho lowered their target price on shares of 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 assumed coverage on Revance Therapeutics in a research report on Monday, January 13th. They set a “hold” rating for the company. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.39.

Revance Therapeutics Price Performance

Revance Therapeutics stock opened at $3.68 on Friday. The company’s 50-day moving average is $3.46 and its 200 day moving average is $4.56. Revance Therapeutics has a 1-year low of $2.30 and a 1-year high of $7.56. The firm has a market capitalization of $384.16 million, a P/E ratio of -1.91 and a beta of 0.86.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. Research analysts anticipate that Revance Therapeutics will post -1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

Several large investors have recently made changes to their positions in RVNC. Sei Investments Co. boosted its position in 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 purchasing an additional 7,628 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Revance Therapeutics by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 7,890 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Revance Therapeutics by 29.4% during the second quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 9,601 shares during the last quarter. FORA Capital LLC purchased a new stake in shares of Revance Therapeutics in the third quarter valued at about $54,000. Finally, Creative Planning purchased a new stake in shares of Revance Therapeutics in the 3rd quarter valued at approximately $56,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.