Commonwealth Equity Services LLC Raises Stock Holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Commonwealth Equity Services LLC raised its stake in Revance Therapeutics, Inc. (NASDAQ:RVNC – Get Rating) by 131.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 75,825 shares of the biopharmaceutical company’s stock after buying an additional 43,012 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Revance Therapeutics were worth $2,047,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Revance Therapeutics by 151,392.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 586,275 shares of the biopharmaceutical company’s stock worth $15,828,000 after buying an additional 585,888 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Revance Therapeutics in the third quarter worth $13,532,000. Assenagon Asset Management S.A. increased its position in shares of Revance Therapeutics by 340.5% during the third quarter. Assenagon Asset Management S.A. now owns 575,564 shares of the biopharmaceutical company’s stock worth $15,540,000 after purchasing an additional 444,916 shares in the last quarter. Ghost Tree Capital LLC purchased a new stake in shares of Revance Therapeutics during the 3rd quarter valued at $10,530,000. Finally, Millennium Management LLC boosted its position in shares of Revance Therapeutics by 252.2% in the 2nd quarter. Millennium Management LLC now owns 470,124 shares of the biopharmaceutical company’s stock worth $6,497,000 after purchasing an additional 336,645 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Transactions at Revance Therapeutics

In related news, CFO Tobin Schilke sold 1,000 shares of the stock in a transaction on Friday, January 20th. The shares were sold at an average price of $31.00, for a total transaction of $31,000.00. Following the sale, the chief financial officer now directly owns 57,877 shares of the company’s stock, valued at $1,794,187. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Mark J. Foley sold 70,390 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $31.59, for a total transaction of $2,223,620.10. Following the transaction, the chief executive officer now owns 823,351 shares in the company, valued at approximately $26,009,658.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Tobin Schilke sold 1,000 shares of Revance Therapeutics stock in a transaction on Friday, January 20th. The shares were sold at an average price of $31.00, for a total transaction of $31,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,877 shares in the company, valued at approximately $1,794,187. The disclosure for this sale can be found here. Insiders have sold 140,014 shares of company stock valued at $4,421,806 in the last 90 days. 5.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RVNC has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $42.00 target price on shares of Revance Therapeutics in a research report on Wednesday, March 1st. Guggenheim increased their price objective on shares of Revance Therapeutics to $36.00 in a research report on Tuesday, November 15th. Barclays boosted their target price on shares of Revance Therapeutics from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 1st. Morgan Stanley raised their price target on shares of Revance Therapeutics from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 24th. Finally, Needham & Company LLC upped their target price on Revance Therapeutics from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, March 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.09.

Revance Therapeutics Price Performance

Shares of RVNC opened at $28.63 on Monday. The business’s 50-day moving average is $30.84 and its two-hundred day moving average is $25.88. The company has a market capitalization of $2.37 billion, a P/E ratio of -5.95 and a beta of 0.86. Revance Therapeutics, Inc. has a fifty-two week low of $11.27 and a fifty-two week high of $36.61. The company has a debt-to-equity ratio of 30.11, a quick ratio of 4.71 and a current ratio of 4.95.

Revance Therapeutics (NASDAQ:RVNC – Get Rating) last posted its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.04) by ($0.78). Revance Therapeutics had a negative return on equity of 786.70% and a negative net margin of 268.87%. The company had revenue of $49.90 million for the quarter, compared to analyst estimates of $45.10 million. During the same period last year, the business earned ($0.93) earnings per share. The firm’s revenue was up 92.7% on a year-over-year basis. Research analysts predict that Revance Therapeutics, Inc. will post -2.78 earnings per share for the current year.

About Revance Therapeutics

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Revance Therapeutics, Inc is a clinical stage biotechnology company, which engages in the development, manufacturing, and commercialization of novel botulinum toxin products for multiple aesthetic and therapeutic applications. The firm focuses on production of daxibotulinumtoxinA, a botulinum toxin, for aesthetic and therapeutic indications including facial wrinkles and muscle movement disorders.