Canada Pension Plan Investment Board Continues to Hold Position in Revance Therapeutics, Inc. (RVNC)
Canada Pension Plan Investment Board held its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) during the second quarter, Holdings Channel reports. The fund owned 582,900 shares of the biopharmaceutical company’s stock at the end of the second quarter. Canada Pension Plan Investment Board’s holdings in Revance Therapeutics were worth $15,389,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Revance Therapeutics by 29.5% in the first quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 1,651 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Revance Therapeutics during the fourth quarter worth approximately $174,000. Trexquant Investment LP acquired a new position in shares of Revance Therapeutics during the second quarter worth approximately $231,000. American International Group Inc. increased its position in shares of Revance Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 834 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Revance Therapeutics by 5.9% in the first quarter. Parametric Portfolio Associates LLC now owns 27,401 shares of the biopharmaceutical company’s stock worth $570,000 after buying an additional 1,524 shares in the last quarter. Hedge funds and other institutional investors own 87.94% of the company’s stock.
Revance Therapeutics, Inc. (RVNC) opened at 23.50 on Wednesday. Revance Therapeutics, Inc. has a one year low of $12.35 and a one year high of $28.30. The company’s 50 day moving average price is $24.19 and its 200-day moving average price is $21.99. The company’s market cap is $724.25 million.
Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.93) by $0.03. Revance Therapeutics had a negative return on equity of 55.21% and a negative net margin of 32,936.67%. The firm had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.05 million. During the same period last year, the company earned ($0.88) EPS. Revance Therapeutics’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts forecast that Revance Therapeutics, Inc. will post ($3.75) EPS for the current fiscal year.
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A number of equities analysts recently commented on RVNC shares. Zacks Investment Research upgraded Revance Therapeutics from a “sell” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, August 9th. Piper Jaffray Companies set a $28.00 target price on Revance Therapeutics and gave the company a “buy” rating in a report on Wednesday, July 26th. Aegis restated a “buy” rating and set a $28.00 target price on shares of Revance Therapeutics in a report on Monday, May 1st. BidaskClub upgraded Revance Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, ValuEngine upgraded Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Revance Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $35.00.
In related news, CEO L Daniel Browne sold 12,287 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $20.20, for a total transaction of $248,197.40. Following the completion of the sale, the chief executive officer now directly owns 183,932 shares of the company’s stock, valued at approximately $3,715,426.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lauren P. Silvernail sold 1,793 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $20.20, for a total value of $36,218.60. Following the sale, the chief financial officer now directly owns 36,566 shares of the company’s stock, valued at $738,633.20. The disclosure for this sale can be found here. Insiders have sold a total of 33,793 shares of company stock valued at $685,576 over the last three months. 18.86% of the stock is owned by corporate insiders.
About Revance Therapeutics
Revance Therapeutics, Inc is a clinical-stage biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical.
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