Stonepine Capital Management LLC Has $4.26 Million Stock Holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC)

Stonepine Capital Management LLC reduced its stake in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 70.7% in the third quarter, HoldingsChannel.com reports. The firm owned 820,000 shares of the biopharmaceutical company’s stock after selling 1,980,000 shares during the period. Revance Therapeutics comprises about 2.7% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 10th largest holding. Stonepine Capital Management LLC’s holdings in Revance Therapeutics were worth $4,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FORA Capital LLC bought a new stake in Revance Therapeutics during the 3rd quarter worth approximately $54,000. FMR LLC boosted its stake in shares of Revance Therapeutics by 28.6% in the 3rd quarter. FMR LLC now owns 214,596 shares of the biopharmaceutical company’s stock worth $1,114,000 after buying an additional 47,768 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Revance Therapeutics in the 3rd quarter worth approximately $88,000. Algert Global LLC boosted its stake in shares of Revance Therapeutics by 1,167.3% in the 3rd quarter. Algert Global LLC now owns 126,730 shares of the biopharmaceutical company’s stock worth $658,000 after buying an additional 116,730 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Revance Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 790,837 shares of the biopharmaceutical company’s stock worth $4,104,000 after buying an additional 41,250 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Revance Therapeutics Trading Up 2.0 %

RVNC stock traded up $0.08 during midday trading on Wednesday, reaching $4.10. 133,422 shares of the company’s stock traded hands, compared to its average volume of 2,723,203. The company has a 50-day moving average price of $5.05 and a two-hundred day moving average price of $4.44. Revance Therapeutics, Inc. has a 52 week low of $2.30 and a 52 week high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $59.88 million for the quarter, compared to analyst estimates of $67.73 million. As a group, analysts anticipate that Revance Therapeutics, Inc. will post -1.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Barclays restated an “equal weight” rating and issued a $7.00 target price (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Guggenheim restated a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, November 8th. Finally, William Blair reiterated a “market perform” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Revance Therapeutics presently has an average rating of “Hold” and an average target price 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.