Revance Therapeutics, Inc. (NASDAQ:RVNC) is Stonepine Capital Management LLC’s 5th Largest Position

Stonepine Capital Management LLC lifted its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 41.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,800,000 shares of the biopharmaceutical company’s stock after acquiring an additional 823,658 shares during the period. Revance Therapeutics accounts for approximately 6.6% of Stonepine Capital Management LLC’s portfolio, making the stock its 5th biggest position. Stonepine Capital Management LLC owned about 2.68% of Revance Therapeutics worth $7,196,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Certuity LLC acquired a new position in Revance Therapeutics in the 2nd quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC purchased a new position in Revance Therapeutics in the second quarter worth approximately $33,000. Hsbc Holdings PLC acquired a new stake in Revance Therapeutics during the second quarter worth $38,000. Nisa Investment Advisors LLC raised its position in Revance Therapeutics by 2,167.5% in the second quarter. Nisa Investment Advisors LLC now owns 18,911 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 18,077 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Revance Therapeutics by 52.5% in the 2nd quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 7,628 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Stock Performance

Shares of RVNC opened at $5.19 on Tuesday. Revance Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $11.49. The stock has a market capitalization of $542.09 million, a PE ratio of -1.43 and a beta of 1.00. The stock has a 50-day simple moving average of $5.49 and a 200-day simple moving average of $4.24.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. The firm had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $66.30 million. During the same quarter in the prior year, the firm earned ($0.80) EPS. The firm’s revenue was up 20.2% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

RVNC has been the topic of a number of recent analyst reports. Needham & Company LLC cut shares of Revance Therapeutics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th. StockNews.com initiated coverage on shares of Revance Therapeutics in a research report on Tuesday. They set a “hold” rating for the company. HC Wainwright lowered Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Revance Therapeutics currently has an average rating of “Hold” and an average price target of $10.50.

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.