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

Needham & Company LLC reissued their hold rating on shares of Revance Therapeutics (NASDAQ:RVNC) in a report published on Monday, Benzinga reports.

A number of other brokerages have also issued reports on RVNC. StockNews.com assumed coverage on Revance Therapeutics in a research report on Friday, October 25th. They set a “hold” rating on the stock. Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Stifel Nicolaus cut their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Barclays restated an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Revance Therapeutics presently has an average rating of “Hold” and an average price target of $10.29.

Revance Therapeutics Price Performance

Shares of RVNC opened at $5.90 on Monday. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $9.74. The stock has a market capitalization of $618.46 million, a P/E ratio of -1.85 and a beta of 0.98. The firm’s 50 day moving average is $5.79 and its 200-day moving average is $4.35.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.12. The business had revenue of $65.39 million during the quarter, compared to analyst estimates of $66.30 million. During the same quarter last year, the firm posted ($0.80) EPS. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, equities research analysts forecast that Revance Therapeutics will post -1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings in shares of Revance Therapeutics by 16.8% during the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after acquiring an additional 2,006,459 shares in the last quarter. Stonepine Capital Management LLC boosted its position in Revance Therapeutics by 41.7% during the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $7,196,000 after purchasing an additional 823,658 shares during the last quarter. Opaleye Management Inc. acquired a new stake in Revance Therapeutics during the first quarter valued at $3,862,000. Federated Hermes Inc. grew its stake in Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock valued at $5,750,000 after purchasing an additional 672,803 shares in the last quarter. Finally, Integral Health Asset Management LLC acquired a new position in Revance Therapeutics in the 2nd quarter worth about $1,285,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.