Voya Investment Management LLC boosted its position in shares of Revance Therapeutics Inc (NASDAQ:RVNC) by 19.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,433 shares of the biopharmaceutical company’s stock after buying an additional 2,041 shares during the period. Voya Investment Management LLC’s holdings in Revance Therapeutics were worth $341,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in RVNC. Cubist Systematic Strategies LLC bought a new position in Revance Therapeutics during the first quarter valued at approximately $189,000. Xact Kapitalforvaltning AB bought a new position in Revance Therapeutics during the second quarter valued at approximately $209,000. Verition Fund Management LLC bought a new position in Revance Therapeutics during the first quarter valued at approximately $233,000. Levin Capital Strategies L.P. bought a new position in Revance Therapeutics during the first quarter valued at approximately $277,000. Finally, Nottingham Advisors Inc. boosted its stake in Revance Therapeutics by 17.7% during the second quarter. Nottingham Advisors Inc. now owns 13,312 shares of the biopharmaceutical company’s stock valued at $365,000 after buying an additional 2,000 shares during the last quarter. 94.30% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on RVNC shares. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Revance Therapeutics in a research note on Friday, September 14th. JMP Securities lowered Revance Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, September 17th. Zacks Investment Research lowered Revance Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. ValuEngine raised Revance Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, BidaskClub lowered Revance Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $47.10.
NASDAQ:RVNC opened at $24.27 on Friday. Revance Therapeutics Inc has a 1 year low of $22.25 and a 1 year high of $37.45.
Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.02). The company had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.93 million. Revance Therapeutics had a negative net margin of 13,690.62% and a negative return on equity of 63.30%. On average, equities analysts anticipate that Revance Therapeutics Inc will post -3.9 EPS for the current fiscal year.
Revance Therapeutics 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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