Revance Therapeutics' (RVNC) "Hold" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Revance Therapeutics (NASDAQ:RVNC - Free Report) in a research note issued to investors on Monday, Benzinga reports.

Several other equities analysts also recently issued reports on RVNC. Stifel Nicolaus cut their price objective on Revance Therapeutics from $24.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Piper Sandler downgraded Revance Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 12th. William Blair reiterated a "market perform" rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Barclays reiterated an "equal weight" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Finally, HC Wainwright downgraded Revance Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 13th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Revance Therapeutics presently has a consensus rating of "Hold" and an average target price of $10.29.

Revance Therapeutics Price Performance

Shares of Revance Therapeutics stock traded up $1.20 during midday trading on Monday, hitting $5.90. 8,946,245 shares of the company were exchanged, compared to its average volume of 2,761,451. The firm has a market cap of $618.44 million, a P/E ratio of -1.86 and a beta of 0.98. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $9.74. The firm has a 50 day simple moving average of $5.85 and a 200-day simple moving average of $4.30.

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million for the quarter, compared to the consensus estimate of $66.30 million. During the same quarter last year, the business earned ($0.80) EPS. Revance Therapeutics's quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts expect that Revance Therapeutics will post -1.53 earnings per share for the current year.

Institutional Investors Weigh In On Revance Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Certuity LLC acquired a new stake in shares of Revance Therapeutics during the second quarter worth $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Revance Therapeutics during the second quarter worth $33,000. Hsbc Holdings PLC acquired a new stake in shares of Revance Therapeutics during the second quarter worth $38,000. Nisa Investment Advisors LLC grew its stake in shares of Revance Therapeutics by 2,167.5% during the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 18,077 shares during the period. Finally, Creative Planning acquired a new stake in shares of Revance Therapeutics during the third quarter worth $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.