Northern Trust Corp increased its stake in shares of Revance Therapeutics Inc (NASDAQ:RVNC) by 22.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 415,856 shares of the biopharmaceutical company’s stock after acquiring an additional 76,406 shares during the period. Northern Trust Corp owned about 1.13% of Revance Therapeutics worth $11,415,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of RVNC. BlackRock Inc. grew its position in Revance Therapeutics by 21.6% in the second quarter. BlackRock Inc. now owns 2,931,980 shares of the biopharmaceutical company’s stock valued at $80,482,000 after purchasing an additional 521,536 shares in the last quarter. OppenheimerFunds Inc. grew its position in Revance Therapeutics by 10.6% in the second quarter. OppenheimerFunds Inc. now owns 252,370 shares of the biopharmaceutical company’s stock valued at $6,927,000 after purchasing an additional 24,284 shares in the last quarter. Bank of America Corp DE grew its position in Revance Therapeutics by 295.8% in the second quarter. Bank of America Corp DE now owns 120,757 shares of the biopharmaceutical company’s stock valued at $3,315,000 after purchasing an additional 90,248 shares in the last quarter. Sio Capital Management LLC bought a new position in Revance Therapeutics in the second quarter valued at $2,780,000. Finally, Renaissance Technologies LLC grew its position in Revance Therapeutics by 56.9% in the second quarter. Renaissance Technologies LLC now owns 235,200 shares of the biopharmaceutical company’s stock valued at $6,456,000 after purchasing an additional 85,300 shares in the last quarter. Institutional investors and hedge funds own 94.42% of the company’s stock.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Revance Therapeutics from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Wednesday. BidaskClub downgraded shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. ValuEngine downgraded shares of Revance Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $50.00 target price on shares of Revance Therapeutics in a research report on Thursday, November 1st. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Revance Therapeutics in a research report on Monday, September 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $46.60.
Shares of RVNC opened at $23.46 on Friday. Revance Therapeutics Inc has a one year low of $21.45 and a one year high of $37.45. The stock has a market capitalization of $889.55 million, a PE ratio of -5.85 and a beta of 1.35.
Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.04. Revance Therapeutics had a negative net margin of 4,205.52% and a negative return on equity of 61.45%. The company had revenue of $2.36 million during the quarter, compared to the consensus estimate of $0.49 million. On average, sell-side analysts expect that Revance Therapeutics Inc will post -3.83 earnings per share for the current year.
In other news, insider Cyril Allouche sold 2,188 shares of Revance Therapeutics stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $23.72, for a total value of $51,899.36. Following the completion of the transaction, the insider now owns 6,938 shares of the company’s stock, valued at approximately $164,569.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 18.86% of the company’s stock.
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About Revance Therapeutics
Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.
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