Revance Therapeutics, Inc. (NASDAQ:RVNC) Position Raised by Jennison Associates LLC

Jennison Associates LLC increased its position in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,032,352 shares of the biopharmaceutical company’s stock after purchasing an additional 34,736 shares during the period. Jennison Associates LLC’s holdings in Revance Therapeutics were worth $9,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rubric Capital Management LP bought a new position in shares of Revance Therapeutics in the third quarter valued at $18,352,000. Invesco Ltd. increased its holdings in shares of Revance Therapeutics by 66.0% in the third quarter. Invesco Ltd. now owns 2,902,440 shares of the biopharmaceutical company’s stock valued at $33,291,000 after buying an additional 1,153,615 shares in the last quarter. EULAV Asset Management increased its holdings in shares of Revance Therapeutics by 275.0% in the third quarter. EULAV Asset Management now owns 600,000 shares of the biopharmaceutical company’s stock valued at $6,882,000 after buying an additional 440,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Revance Therapeutics in the third quarter valued at $4,749,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Revance Therapeutics by 55.2% in the third quarter. Principal Financial Group Inc. now owns 963,029 shares of the biopharmaceutical company’s stock valued at $11,046,000 after buying an additional 342,540 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Insider Activity

In other news, CFO Tobin Schilke sold 9,361 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $5.04, for a total transaction of $47,179.44. Following the completion of the transaction, the chief financial officer now owns 192,666 shares of the company’s stock, valued at $971,036.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Dwight Moxie sold 8,125 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $5.04, for a total value of $40,950.00. Following the completion of the transaction, the insider now owns 137,815 shares of the company’s stock, valued at $694,587.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Tobin Schilke sold 9,361 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $5.04, for a total transaction of $47,179.44. Following the completion of the transaction, the chief financial officer now directly owns 192,666 shares of the company’s stock, valued at approximately $971,036.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,089 shares of company stock valued at $143,642. Insiders own 5.10% of the company’s stock.

Revance Therapeutics Trading Up 3.3 %

Shares of NASDAQ:RVNC opened at $3.40 on Friday. Revance Therapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $37.98. The firm has a fifty day moving average price of $4.99 and a 200 day moving average price of $6.50.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.17. The firm had revenue of $69.80 million for the quarter, compared to analyst estimates of $64.02 million. As a group, research analysts anticipate that Revance Therapeutics, Inc. will post -2.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. The Goldman Sachs Group upped their price target on Revance Therapeutics from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, March 1st. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Revance Therapeutics in a research report on Thursday, February 29th. Mizuho cut shares of Revance Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $16.00 to $9.00 in a research report on Monday, January 29th. Needham & Company LLC lowered their price objective on shares of Revance Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Barclays lowered their price target on shares of Revance Therapeutics from $35.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Revance Therapeutics presently has a consensus rating of “Hold” and an average price target of $13.75.

About Revance Therapeutics

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 DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed 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.