The Manufacturers Life Insurance Company Acquires 9,601 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

The Manufacturers Life Insurance Company boosted its holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 29.4% during the second quarter, Holdings Channel.com reports. The fund owned 42,296 shares of the biopharmaceutical company’s stock after buying an additional 9,601 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Revance Therapeutics were worth $109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Arizona State Retirement System raised its position in shares of Revance Therapeutics by 27.6% during the 2nd quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 5,996 shares in the last quarter. Sei Investments Co. lifted its stake in Revance Therapeutics by 52.5% during the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 7,628 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Revance Therapeutics by 9.8% in the 1st quarter. California State Teachers Retirement System now owns 97,493 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 8,668 shares in the last quarter. Certuity LLC purchased a new position in shares of Revance Therapeutics in the 2nd quarter worth about $26,000. Finally, EntryPoint Capital LLC increased its position in shares of Revance Therapeutics by 109.4% during the 1st quarter. EntryPoint Capital LLC now owns 19,906 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 10,400 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Stock Up 2.1 %

Shares of Revance Therapeutics stock opened at $5.29 on Monday. The firm has a market cap of $552.54 million, a PE ratio of -1.46 and a beta of 0.98. The company’s fifty day simple moving average is $5.99 and its two-hundred day simple moving average is $4.28. Revance Therapeutics, Inc. has a 12-month low of $2.30 and a 12-month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12. The business had revenue of $65.39 million for the quarter, compared to analysts’ expectations of $66.30 million. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.80) EPS. As a group, sell-side analysts expect that Revance Therapeutics, Inc. will post -1.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. William Blair reaffirmed a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Guggenheim reaffirmed a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Barclays reiterated an “equal weight” rating and issued a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Stifel Nicolaus cut their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, HC Wainwright downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.29.

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 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.