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

Revance Therapeutics (NASDAQ:RVNC - Get Free Report)'s stock had its "hold" rating restated by equities researchers at Needham & Company LLC in a report released on Friday,Benzinga reports.

RVNC has been the topic of several other research reports. Barclays cut 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 report on Monday, December 23rd. HC Wainwright reaffirmed a "neutral" rating and set a $6.60 target price on shares of Revance Therapeutics in a research note on Friday, November 8th. StockNews.com started coverage on shares of Revance Therapeutics in a research note on Monday, January 13th. They issued a "hold" rating for the company. Finally, Mizuho cut 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 analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $8.39.

Revance Therapeutics Trading Up 12.5 %

RVNC stock traded up $0.41 during midday trading on Friday, hitting $3.68. The company had a trading volume of 11,241,165 shares, compared to its average volume of 2,431,710. The stock has a market cap of $384.16 million, a price-to-earnings ratio of -1.91 and a beta of 0.86. Revance Therapeutics has a 52 week low of $2.30 and a 52 week high of $7.56. The stock's 50 day moving average price is $3.46 and its 200 day moving average price is $4.55.

Revance Therapeutics (NASDAQ:RVNC - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS 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. Analysts predict that Revance Therapeutics will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of Revance Therapeutics by 22.5% in the second quarter. Bank of New York Mellon Corp now owns 373,015 shares of the biopharmaceutical company's stock worth $959,000 after acquiring an additional 68,451 shares during the last quarter. Rhumbline Advisers increased its stake in Revance Therapeutics by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 136,347 shares of the biopharmaceutical company's stock valued at $350,000 after purchasing an additional 14,191 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Revance Therapeutics by 53.1% in the second quarter. Renaissance Technologies LLC now owns 572,000 shares of the biopharmaceutical company's stock worth $1,470,000 after buying an additional 198,300 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Revance Therapeutics in the second quarter worth about $33,000. Finally, Hsbc Holdings PLC bought a new position in shares of Revance Therapeutics in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

Revance Therapeutics Company Profile

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.