Needham & Company LLC Lowers Revance Therapeutics (NASDAQ:RVNC) to Hold

Revance Therapeutics (NASDAQ:RVNC) was downgraded by equities research analysts at Needham & Company LLC from a “moderate buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

Other analysts also recently issued research reports about the stock. HC Wainwright downgraded shares of Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler dropped their price objective on Revance Therapeutics from $11.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a report on Monday. Mizuho lowered their target price on Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Revance Therapeutics has an average rating of “Hold” and a consensus price target of $11.89.

Revance Therapeutics Trading Down 0.2 %

Shares of NASDAQ:RVNC opened at $6.58 on Tuesday. The company has a market capitalization of $689.72 million, a price-to-earnings ratio of -1.81 and a beta of 0.98. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $19.88. The business has a 50-day moving average price of $3.34 and a 200 day moving average price of $4.14.

Revance Therapeutics (NASDAQ:RVNC) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share 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 analysts’ expectations of $66.30 million. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business earned ($0.80) EPS. As a group, equities research analysts predict that Revance Therapeutics will post -1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Revance Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in RVNC. Certuity LLC purchased a new stake in shares of Revance Therapeutics during the 2nd quarter worth $26,000. Vanguard Personalized Indexing Management LLC purchased a new position in Revance Therapeutics in the second quarter valued at $33,000. Hsbc Holdings PLC acquired a new stake in Revance Therapeutics in the second quarter valued at $38,000. Nisa Investment Advisors LLC lifted its holdings in Revance Therapeutics by 2,167.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 18,077 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Revance Therapeutics by 52.5% during the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 7,628 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.