Revance Therapeutics, Inc. (NASDAQ:RVNC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its position in shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) by 23.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,784,658 shares of the biopharmaceutical company’s stock after selling 1,474,260 shares during the quarter. Franklin Resources Inc. owned approximately 4.56% of Revance Therapeutics worth $24,593,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Arizona State Retirement System grew its stake in Revance Therapeutics by 27.6% in the 2nd quarter. Arizona State Retirement System now owns 27,716 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 5,996 shares during the period. Sei Investments Co. boosted its holdings in shares of Revance Therapeutics by 52.5% during the second quarter. Sei Investments Co. now owns 22,167 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 7,628 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Revance Therapeutics by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,161 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 7,890 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Revance Therapeutics by 29.4% in the second quarter. The Manufacturers Life Insurance Company now owns 42,296 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 9,601 shares during the period. Finally, Certuity LLC acquired a new position in Revance Therapeutics in the second quarter valued at $26,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Revance Therapeutics Price Performance

NASDAQ:RVNC opened at $3.07 on Friday. The business’s 50-day moving average is $4.38 and its two-hundred day moving average is $4.47. The firm has a market capitalization of $320.48 million, a PE ratio of -1.59 and a beta of 0.81. Revance Therapeutics, Inc. has a 12 month low of $2.30 and a 12 month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The company had revenue of $59.88 million during the quarter, compared to analysts’ expectations of $67.73 million. Equities analysts anticipate that Revance Therapeutics, Inc. will post -1.57 EPS for the current 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.