Revance Therapeutics (NASDAQ:RVNC) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Revance Therapeutics (NASDAQ:RVNC - Free Report) in a report published on Friday morning,Benzinga reports.

Several other brokerages also recently weighed in on RVNC. HC Wainwright reaffirmed a "neutral" rating and set a $6.60 target price on shares of Revance Therapeutics in a research note on Friday. Piper Sandler cut Revance Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 12th. StockNews.com started coverage on Revance Therapeutics in a research report on Saturday, November 2nd. They set a "hold" rating for the company. Guggenheim reaffirmed a "neutral" rating on shares of Revance Therapeutics in a report on Monday, August 12th. Finally, Barclays reiterated an "equal weight" rating and set a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Revance Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $9.66.

Revance Therapeutics Price Performance

Shares of NASDAQ:RVNC traded down $2.08 during mid-day trading on Friday, reaching $3.70. 13,129,610 shares of the company were exchanged, compared to its average volume of 2,753,991. Revance Therapeutics has a 1 year low of $2.30 and a 1 year high of $9.74. The firm's 50-day simple moving average is $5.66 and its 200 day simple moving average is $4.42. The firm has a market cap of $387.83 million, a price-to-earnings ratio of -1.16 and a beta of 0.95.

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.48) by $0.12. The firm had revenue of $65.39 million during the quarter, compared to analyst estimates of $66.30 million. During the same period in the previous year, the firm posted ($0.80) earnings per share. The company's quarterly revenue was up 20.2% compared to the same quarter last year. On average, research analysts forecast that Revance Therapeutics will post -1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Certuity LLC purchased a new position in Revance Therapeutics during the second quarter worth approximately $26,000. Creative Planning acquired a new stake in shares of Revance Therapeutics during the 3rd quarter worth $56,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Revance Therapeutics in the 2nd quarter worth $33,000. Accredited Investors Inc. acquired a new position in Revance Therapeutics in the third quarter valued at $67,000. Finally, Hsbc Holdings PLC acquired a new position in Revance Therapeutics in the second quarter valued at $38,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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.