Allspring Global Investments Holdings LLC lifted its stake in Revance Therapeutics, Inc. (NASDAQ:RVNC - Get Rating) by 40.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,537,250 shares of the biopharmaceutical company's stock after purchasing an additional 442,726 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.83% of Revance Therapeutics worth $49,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Wall Street Sees 23% Upside In Revance, Maker Of Botox Competitor
Several other large investors have also recently modified their holdings of RVNC. Advisor Group Holdings Inc. raised its position in shares of Revance Therapeutics by 60.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,838 shares of the biopharmaceutical company's stock worth $56,000 after purchasing an additional 1,071 shares during the last quarter. Citigroup Inc. increased its holdings in Revance Therapeutics by 114.2% in the 1st quarter. Citigroup Inc. now owns 12,451 shares of the biopharmaceutical company's stock worth $243,000 after buying an additional 100,141 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Revance Therapeutics by 53.8% in the 1st quarter. MetLife Investment Management LLC now owns 39,127 shares of the biopharmaceutical company's stock worth $763,000 after buying an additional 13,694 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in Revance Therapeutics by 358.8% in the 1st quarter. Panagora Asset Management Inc. now owns 49,123 shares of the biopharmaceutical company's stock worth $958,000 after buying an additional 38,416 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Revance Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,645,311 shares of the biopharmaceutical company's stock worth $71,084,000 after buying an additional 43,014 shares in the last quarter. Hedge funds and other institutional investors own 90.45% of the company's stock.
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Several research firms recently commented on RVNC. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price objective on shares of Revance Therapeutics in a report on Wednesday, April 19th. Piper Sandler lifted their price objective on Revance Therapeutics from $39.00 to $50.00 in a report on Wednesday, May 10th. Mizuho lifted their price objective on Revance Therapeutics from $33.00 to $35.00 in a report on Wednesday, June 7th. Wells Fargo & Company boosted their price target on Revance Therapeutics from $22.00 to $30.00 in a research note on Tuesday, March 14th. Finally, HC Wainwright boosted their price target on Revance Therapeutics from $42.00 to $48.00 in a research note on Wednesday, May 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Revance Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $42.55.
Insider Activity
In related news, SVP Dwight Moxie sold 21,401 shares of the business's stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $34.55, for a total value of $739,404.55. Following the transaction, the senior vice president now directly owns 69,165 shares of the company's stock, valued at approximately $2,389,650.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Mark J. Foley sold 70,447 shares of the business's stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $34.55, for a total value of $2,433,943.85. Following the transaction, the chief executive officer now directly owns 923,212 shares of the company's stock, valued at approximately $31,896,974.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Dwight Moxie sold 21,401 shares of the business's stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $34.55, for a total value of $739,404.55. Following the completion of the transaction, the senior vice president now directly owns 69,165 shares in the company, valued at $2,389,650.75. The disclosure for this sale can be found here. Insiders have sold a total of 160,745 shares of company stock valued at $5,371,961 in the last ninety days. Corporate insiders own 3.60% of the company's stock.
Revance Therapeutics Stock Down 5.2 %
RVNC stock opened at $25.35 on Tuesday. Revance Therapeutics, Inc. has a twelve month low of $13.51 and a twelve month high of $37.98. The company has a quick ratio of 3.79, a current ratio of 4.14 and a debt-to-equity ratio of 30.11. The stock has a market cap of $2.13 billion, a P/E ratio of -5.50 and a beta of 0.84. The business's 50-day moving average price is $31.44 and its 200-day moving average price is $29.99.
Revance Therapeutics (NASDAQ:RVNC - Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, beating analysts' consensus estimates of ($0.75) by $0.01. Revance Therapeutics had a negative return on equity of 1,091.00% and a negative net margin of 224.65%. The firm had revenue of $49.33 million for the quarter, compared to analysts' expectations of $46.21 million. During the same period in the previous year, the firm earned ($0.94) EPS. The business's quarterly revenue was up 95.3% on a year-over-year basis. On average, equities research analysts forecast that Revance Therapeutics, Inc. will post -2.78 EPS for the current year.
Revance Therapeutics Profile (Get Rating)
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.
