Alpine Associates Management Inc. Takes Position in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Alpine Associates Management Inc. acquired a new stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,162,861 shares of the biopharmaceutical company’s stock, valued at approximately $21,605,000. Alpine Associates Management Inc. owned about 3.97% of Revance Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. LMR Partners LLP acquired a new position in shares of Revance Therapeutics during the third quarter valued at about $11,648,000. Accredited Investors Inc. purchased a new position in Revance Therapeutics during the third quarter worth about $67,000. GSA Capital Partners LLP purchased a new position in Revance Therapeutics during the third quarter worth about $108,000. Rice Hall James & Associates LLC boosted its holdings in Revance Therapeutics by 2.5% during the third quarter. Rice Hall James & Associates LLC now owns 730,190 shares of the biopharmaceutical company’s stock worth $3,790,000 after purchasing an additional 18,118 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Revance Therapeutics by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 7,890 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Revance Therapeutics Stock Down 5.8 %

NASDAQ RVNC opened at $3.76 on Wednesday. The company’s 50 day moving average is $5.36 and its 200-day moving average is $4.45. Revance Therapeutics, Inc. has a 12-month low of $2.30 and a 12-month high of $9.74. The firm has a market cap of $394.42 million, a P/E ratio of -2.05 and a beta of 0.95.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $59.88 million for the quarter, compared to the consensus estimate of $67.73 million. Equities analysts expect that Revance Therapeutics, Inc. will post -1.54 EPS for the current year.

Analyst Ratings Changes

RVNC has been the topic of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th. HC Wainwright restated a “neutral” rating and set a $6.60 price target on shares of Revance Therapeutics in a report on Friday, November 8th. William Blair restated a “market perform” rating on shares of Revance Therapeutics in a report on Monday, August 12th. Stifel Nicolaus cut their price target on shares of Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Guggenheim reiterated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Nine equities research 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 company currently has an average rating of “Hold” and an average price target of $9.66.

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.