Needham & Company LLC Reaffirms Hold Rating for Revance Therapeutics (NASDAQ:RVNC)

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

A number of other equities analysts have also recently issued reports on the stock. Barclays dropped their price target 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. StockNews.com began coverage on shares of Revance Therapeutics in a research note on Monday. They issued a “hold” rating on the stock. HC Wainwright reissued a “neutral” rating and set a $6.60 price target on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Mizuho lowered their price objective on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.39.

Revance Therapeutics Stock Up 11.2 %

Shares of RVNC stock traded up $0.37 during trading hours on Friday, hitting $3.64. 9,034,298 shares of the company’s stock traded hands, compared to its average volume of 3,617,855. The stock’s fifty day simple moving average is $3.46 and its two-hundred day simple moving average is $4.53. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $7.56. The stock has a market cap of $379.46 million, a price-to-earnings ratio of -1.88 and a beta of 0.86.

Revance Therapeutics (NASDAQ:RVNC) last posted 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 during the quarter, compared to the consensus estimate of $67.73 million. On average, equities analysts forecast that Revance Therapeutics will post -1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Sei Investments Co. grew its stake in shares of Revance Therapeutics by 52.5% during the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 7,628 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Revance Therapeutics by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 7,890 shares during the period. The Manufacturers Life Insurance Company increased its holdings 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 valued at $109,000 after buying an additional 9,601 shares during the last quarter. FORA Capital LLC purchased a new stake in Revance Therapeutics during the third quarter valued at approximately $54,000. Finally, Creative Planning bought a new position in Revance Therapeutics in the third quarter worth approximately $56,000. 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.