Alps Advisors Inc. Purchases 8,431 Shares of Revance Therapeutics Inc. (RVNC)
Alps Advisors Inc. raised its position in Revance Therapeutics Inc. (NASDAQ:RVNC) by 26.7% during the second quarter, Holdings Channel reports. The institutional investor owned 39,990 shares of the biopharmaceutical company’s stock after buying an additional 8,431 shares during the period. Alps Advisors Inc.’s holdings in Revance Therapeutics were worth $544,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Revance Therapeutics by 216.9% in the first quarter. Wellington Management Group LLP now owns 1,651,426 shares of the biopharmaceutical company’s stock worth $28,834,000 after buying an additional 1,130,248 shares during the period. Franklin Resources Inc. increased its position in shares of Revance Therapeutics by 4.7% in the first quarter. Franklin Resources Inc. now owns 3,329,070 shares of the biopharmaceutical company’s stock worth $58,126,000 after buying an additional 150,175 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Revance Therapeutics during the first quarter worth about $1,447,000. Vivo Capital LLC bought a new position in shares of Revance Therapeutics during the first quarter worth about $1,886,000. Finally, Geode Capital Management LLC increased its position in shares of Revance Therapeutics by 8.8% in the first quarter. Geode Capital Management LLC now owns 140,040 shares of the biopharmaceutical company’s stock worth $2,445,000 after buying an additional 11,322 shares in the last quarter.
Shares of Revance Therapeutics Inc. (NASDAQ:RVNC) traded up 1.89% on Friday, reaching $16.21. The company had a trading volume of 151,661 shares. The firm’s market capitalization is $461.73 million. The firm’s 50 day moving average is $15.25 and its 200 day moving average is $16.18. Revance Therapeutics Inc. has a 12 month low of $12.54 and a 12 month high of $42.41.
Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by $0.02. Revance Therapeutics had a negative return on equity of 40.44% and a negative net margin of 28,586.33%. The firm had revenue of $0.80 million for the quarter, compared to analyst estimates of $0.06 million. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts expect that Revance Therapeutics Inc. will post ($3.49) earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on RVNC shares. Brean Capital reiterated a “hold” rating on shares of Revance Therapeutics in a report on Thursday, June 23rd. Guggenheim reiterated a “buy” rating and issued a $55.00 price target on shares of Revance Therapeutics in a report on Tuesday, June 14th. Zacks Investment Research downgraded Revance Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. SunTrust Banks Inc. cut their price target on Revance Therapeutics from $46.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, June 14th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $35.00 price target (down from $54.00) on shares of Revance Therapeutics in a report on Tuesday, June 14th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.60.
About Revance Therapeutics
Revance Therapeutics, Inc is a biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its TransMTS technology enables delivery of botulinum toxin type A through investigational drug product candidates, including DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical, and DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable.
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