Revance Therapeutics, Inc. (NASDAQ:RVNC) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its holdings in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 78.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,390 shares of the biopharmaceutical company’s stock after selling 90,901 shares during the period. BNP Paribas Financial Markets’ holdings in Revance Therapeutics were worth $127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RVNC. Alpine Associates Management Inc. purchased a new stake in shares of Revance Therapeutics during the third quarter worth about $21,605,000. LMR Partners LLP purchased a new position in Revance Therapeutics in the 3rd quarter valued at $11,648,000. Stonepine Capital Management LLC boosted its stake in Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after purchasing an additional 823,658 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after buying an additional 672,803 shares in the last quarter. Finally, Integral Health Asset Management LLC acquired a new position in Revance Therapeutics during the second quarter worth about $1,285,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

RVNC has been the topic of a number of analyst reports. StockNews.com started coverage on Revance Therapeutics in a research report on Thursday, December 12th. They set a “hold” rating on the stock. Barclays restated an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Revance Therapeutics in a research report on Friday, November 8th. HC Wainwright reissued a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a research report on Friday, November 8th. Finally, Mizuho dropped their target price on Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.96.

Revance Therapeutics Stock Performance

Shares of Revance Therapeutics stock opened at $3.07 on Thursday. The business has a 50-day simple moving average of $4.43 and a 200-day simple moving average of $4.48. Revance Therapeutics, Inc. has a one year low of $2.30 and a one year high of $9.74. The company has a market cap of $322.05 million, a PE ratio of -1.59 and a beta of 0.81.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The firm had revenue of $59.88 million for the quarter, compared to analyst estimates of $67.73 million. On average, sell-side analysts predict that Revance Therapeutics, Inc. will post -1.57 earnings per share for the current fiscal year.

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.