Alliancebernstein L.P. grew its stake in shares of Revance Therapeutics Inc (NASDAQ:RVNC) by 26.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,651,949 shares of the biopharmaceutical company’s stock after acquiring an additional 341,896 shares during the period. Alliancebernstein L.P. owned about 4.47% of Revance Therapeutics worth $41,051,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of RVNC. BlackRock Inc. raised its stake in shares of Revance Therapeutics by 21.6% during the second quarter. BlackRock Inc. now owns 2,931,980 shares of the biopharmaceutical company’s stock valued at $80,482,000 after acquiring an additional 521,536 shares in the last quarter. Fosun International Ltd raised its stake in shares of Revance Therapeutics by 48.0% during the second quarter. Fosun International Ltd now owns 472,532 shares of the biopharmaceutical company’s stock valued at $12,971,000 after acquiring an additional 153,219 shares in the last quarter. Sio Capital Management LLC bought a new stake in shares of Revance Therapeutics during the second quarter valued at approximately $2,780,000. Bank of America Corp DE raised its stake in shares of Revance Therapeutics by 295.8% during 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 acquiring an additional 90,248 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Revance Therapeutics by 56.9% during the second quarter. Renaissance Technologies LLC now owns 235,200 shares of the biopharmaceutical company’s stock valued at $6,456,000 after acquiring an additional 85,300 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:RVNC opened at $20.10 on Friday. The company has a market capitalization of $734.21 million, a P/E ratio of -5.01 and a beta of 1.35. Revance Therapeutics Inc has a 52 week low of $19.62 and a 52 week high of $37.45.
Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.91) EPS for the quarter, topping 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, analysts forecast that Revance Therapeutics Inc will post -3.81 EPS for the current fiscal year.
In other Revance Therapeutics news, insider Cyril Allouche sold 2,188 shares of Revance Therapeutics stock in a transaction on Friday, November 9th. The shares were sold at an average price of $23.72, for a total value of $51,899.36. Following the transaction, the insider now directly owns 6,938 shares of the company’s stock, valued at $164,569.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.86% of the stock is currently owned by insiders.
A number of brokerages recently commented on RVNC. Zacks Investment Research raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. BidaskClub raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. ValuEngine raised shares of Revance Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. Piper Jaffray Companies reissued a “buy” rating on shares of Revance Therapeutics in a research note on Monday, September 17th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $50.00 price objective on shares of Revance Therapeutics in a research note on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $46.50.
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Revance Therapeutics Company Profile
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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