Franklin Resources Inc. raised its holdings in shares of Revance Therapeutics Inc (NASDAQ:RVNC) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,394,202 shares of the biopharmaceutical company’s stock after acquiring an additional 105,424 shares during the period. Franklin Resources Inc. owned approximately 9.49% of Revance Therapeutics worth $121,343,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Revance Therapeutics during the 3rd quarter valued at approximately $144,000. Teacher Retirement System of Texas acquired a new stake in Revance Therapeutics during the 4th quarter valued at approximately $255,000. Voya Investment Management LLC acquired a new stake in Revance Therapeutics during the 2nd quarter valued at approximately $274,000. Quinn Opportunity Partners LLC acquired a new stake in Revance Therapeutics during the 4th quarter valued at approximately $325,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Revance Therapeutics by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,304 shares of the biopharmaceutical company’s stock valued at $483,000 after acquiring an additional 1,275 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.
Several research firms have recently weighed in on RVNC. Goldman Sachs Group began coverage on shares of Revance Therapeutics in a report on Monday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Zacks Investment Research raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Piper Jaffray Companies set a $48.00 target price on shares of Revance Therapeutics and gave the company a “buy” rating in a report on Thursday, March 1st. Barclays began coverage on shares of Revance Therapeutics in a report on Monday, November 27th. They set an “overweight” rating and a $31.00 target price for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Revance Therapeutics in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $45.45.
Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.15). The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.09 million. Revance Therapeutics had a negative net margin of 46,025.57% and a negative return on equity of 64.40%. Revance Therapeutics’s revenue for the quarter was down 50.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.95) earnings per share. equities analysts expect that Revance Therapeutics Inc will post -3.64 earnings per share for the current year.
In related news, CEO L Daniel Browne sold 27,283 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $31.43, for a total value of $857,504.69. Following the completion of the sale, the chief executive officer now owns 131,208 shares of the company’s stock, valued at approximately $4,123,867.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Lauren P. Silvernail sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $31.50, for a total transaction of $315,000.00. Following the completion of the sale, the chief financial officer now directly owns 82,954 shares of the company’s stock, valued at approximately $2,613,051. The disclosure for this sale can be found here. In the last three months, insiders sold 57,283 shares of company stock valued at $1,812,505. 18.86% of the stock is owned by insiders.
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Revance Therapeutics Profile
Revance Therapeutics, Inc is a clinical-stage biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical.
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