EntryPoint Capital LLC Raises Stock Holdings in Revance Therapeutics, Inc. (NASDAQ:RVNC)

EntryPoint Capital LLC increased its position in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 109.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,906 shares of the biopharmaceutical company’s stock after purchasing an additional 10,400 shares during the period. EntryPoint Capital LLC’s holdings in Revance Therapeutics were worth $98,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in Revance Therapeutics by 342.1% in the first quarter. BNP Paribas Financial Markets now owns 211,695 shares of the biopharmaceutical company’s stock worth $1,042,000 after purchasing an additional 163,809 shares during the period. Victory Capital Management Inc. purchased a new stake in Revance Therapeutics in the fourth quarter worth $93,000. Vanguard Group Inc. grew its stake in Revance Therapeutics by 3.0% in the third quarter. Vanguard Group Inc. now owns 4,791,459 shares of the biopharmaceutical company’s stock worth $54,958,000 after purchasing an additional 138,683 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Revance Therapeutics by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 677,364 shares of the biopharmaceutical company’s stock worth $5,954,000 after purchasing an additional 13,826 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Revance Therapeutics in the first quarter worth $457,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RVNC shares. Needham & Company LLC lowered their target price on Revance Therapeutics from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 10th. HC Wainwright decreased their price objective on Revance Therapeutics from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. Mizuho decreased their price objective on Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. The Goldman Sachs Group decreased their price objective on Revance Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $11.00 target price (down previously from $20.00) on shares of Revance Therapeutics in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.50.

Revance Therapeutics Stock Performance

NASDAQ RVNC traded up $0.02 during trading on Friday, hitting $3.78. 754,445 shares of the stock traded hands, compared to its average volume of 1,886,510. The firm has a 50-day simple moving average of $3.01 and a 200-day simple moving average of $4.35. Revance Therapeutics, Inc. has a 12-month low of $2.30 and a 12-month high of $24.87.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.12. The firm had revenue of $51.94 million for the quarter, compared to analysts’ expectations of $55.64 million. On average, research analysts predict that Revance Therapeutics, Inc. will post -1.83 EPS 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.