New England Research & Management Inc. Buys Shares of 8,875 Revance Therapeutics, Inc. (NASDAQ:RVNC)

New England Research & Management Inc. bought a new stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,875 shares of the biopharmaceutical company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Revance Therapeutics by 16.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,312,896 shares of the biopharmaceutical company’s stock worth $116,449,000 after purchasing an additional 609,841 shares in the last quarter. Polar Capital Holdings Plc raised its stake in Revance Therapeutics by 8.7% in the 1st quarter. Polar Capital Holdings Plc now owns 2,456,497 shares of the biopharmaceutical company’s stock worth $47,902,000 after acquiring an additional 196,797 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Revance Therapeutics by 2,620.0% in the 1st quarter. Thrivent Financial for Lutherans now owns 2,020,981 shares of the biopharmaceutical company’s stock worth $65,096,000 after acquiring an additional 1,946,680 shares during the last quarter. FMR LLC raised its stake in Revance Therapeutics by 2.0% in the 1st quarter. FMR LLC now owns 1,845,232 shares of the biopharmaceutical company’s stock worth $59,435,000 after acquiring an additional 35,977 shares during the last quarter. Finally, State Street Corp raised its stake in Revance Therapeutics by 15.5% in the 2nd quarter. State Street Corp now owns 1,779,793 shares of the biopharmaceutical company’s stock worth $24,597,000 after acquiring an additional 238,356 shares during the last quarter. Institutional investors own 93.28% of the company’s stock.

Insiders Place Their Bets

In other Revance Therapeutics news, CEO Mark J. Foley sold 26,279 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $24.94, for a total transaction of $655,398.26. Following the completion of the sale, the chief executive officer now directly owns 866,654 shares in the company, valued at approximately $21,614,350.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Mark J. Foley sold 26,279 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $24.94, for a total value of $655,398.26. Following the completion of the sale, the chief executive officer now directly owns 866,654 shares in the company, valued at $21,614,350.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dwight Moxie sold 23,853 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $17.81, for a total value of $424,821.93. Following the completion of the transaction, the senior vice president now owns 55,066 shares of the company’s stock, valued at $980,725.46. The disclosure for this sale can be found here. In the last three months, insiders sold 78,112 shares of company stock worth $1,715,930. Corporate insiders own 5.10% of the company’s stock.

Revance Therapeutics Stock Performance

NASDAQ RVNC opened at $17.25 on Friday. Revance Therapeutics, Inc. has a twelve month low of $15.13 and a twelve month high of $37.98. The stock has a 50-day moving average of $20.19 and a 200 day moving average of $27.28. The company has a quick ratio of 4.65, a current ratio of 5.12 and a debt-to-equity ratio of 14.20.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.08). Revance Therapeutics had a negative return on equity of 903.28% and a negative net margin of 191.93%. The firm had revenue of $58.13 million for the quarter, compared to analysts’ expectations of $58.71 million. During the same quarter last year, the firm posted ($0.88) earnings per share. Revance Therapeutics’s quarterly revenue was up 104.9% on a year-over-year basis. As a group, equities research analysts expect that Revance Therapeutics, Inc. will post -2.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RVNC. Needham & Company LLC reduced their target price on Revance Therapeutics from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. BNP Paribas upgraded Revance Therapeutics from an “underperform” rating to a “neutral” rating and set a $20.00 price objective for the company in a research note on Wednesday, August 16th. StockNews.com initiated coverage on Revance Therapeutics in a research note on Thursday, August 17th. They set a “hold” rating for the company. HC Wainwright reiterated a “buy” rating and set a $41.00 price objective on shares of Revance Therapeutics in a research note on Tuesday, August 15th. Finally, Morgan Stanley reduced their price objective on Revance Therapeutics from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Revance Therapeutics Company Profile

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally. The company's lead drug candidate is DaxibotulinumtoxinA for injection, which has completed phase III clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; is in phase II clinical trials to treat upper facial lines, moderate or severe dynamic forehead lines, and moderate or severe lateral canthal lines; and has completed Phase II clinical trials for the treatment of adult upper limb spasticity and plantar fasciitis.