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

The Manufacturers Life Insurance Company raised its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 29.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,296 shares of the biopharmaceutical company’s stock after acquiring an additional 9,601 shares during the period. The Manufacturers Life Insurance Company’s holdings in Revance Therapeutics were worth $109,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RVNC. Capital World Investors increased its position in shares of Revance Therapeutics by 16.8% during the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after acquiring an additional 2,006,459 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Revance Therapeutics by 342.1% in the 1st quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock valued at $1,042,000 after purchasing an additional 163,809 shares during the period. Integral Health Asset Management LLC purchased a new stake in shares of Revance Therapeutics during the 2nd quarter valued at $1,285,000. Vanguard Group Inc. raised its stake in shares of Revance Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after purchasing an additional 328,781 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Revance Therapeutics in the 1st quarter worth about $457,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RVNC has been the subject of a number of research analyst reports. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. StockNews.com initiated coverage on shares of Revance Therapeutics in a report on Thursday. They issued a “hold” rating on the stock. Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Finally, HC Wainwright cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.29.

Revance Therapeutics Price Performance

NASDAQ:RVNC opened at $5.29 on Monday. Revance Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $9.74. The stock’s fifty day moving average price is $5.99 and its two-hundred day moving average price is $4.28. The company has a market cap of $552.54 million, a P/E ratio of -1.46 and a beta of 0.98.

Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million during the quarter, compared to the consensus estimate of $66.30 million. During the same quarter in the prior year, the business earned ($0.80) EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, analysts expect that Revance Therapeutics, Inc. will post -1.53 earnings per share for the current fiscal year.

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.