State of New Jersey Common Pension Fund D acquired a new stake in Revance Therapeutics, Inc. (NASDAQ:RVNC – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 117,907 shares of the biopharmaceutical company’s stock, valued at approximately $3,183,000. State of New Jersey Common Pension Fund D owned about 0.16% of Revance Therapeutics as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in RVNC. Advisor Group Holdings Inc. raised its stake in Revance Therapeutics by 60.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,838 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 1,071 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Revance Therapeutics in the 2nd quarter valued at $92,000. Corton Capital Inc. purchased a new stake in Revance Therapeutics in the 2nd quarter valued at $162,000. Sciencast Management LP purchased a new stake in Revance Therapeutics in the 2nd quarter valued at $165,000. Finally, DCF Advisers LLC purchased a new stake in Revance Therapeutics in the 2nd quarter valued at $166,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Revance Therapeutics Stock Performance

RVNC opened at $27.92 on Friday. The stock’s 50-day moving average price is $21.76 and its 200 day moving average price is $21.54. Revance Therapeutics, Inc. has a 12-month low of $11.27 and a 12-month high of $30.95. The company has a debt-to-equity ratio of 2.60, a current ratio of 5.56 and a quick ratio of 5.33.

Revance Therapeutics (NASDAQ:RVNC – Get Rating) last posted its earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.32). Revance Therapeutics had a negative return on equity of 461.54% and a negative net margin of 251.92%. The firm had revenue of $29.02 million for the quarter, compared to analyst estimates of $28.76 million. As a group, research analysts expect that Revance Therapeutics, Inc. will post -4.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RVNC shares. Needham & Company LLC upped their target price on Revance Therapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, January 10th. Morgan Stanley dropped their target price on Revance Therapeutics from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, November 9th. Guggenheim upped their target price on Revance Therapeutics to $36.00 in a report on Tuesday, November 15th. Barclays increased their price target on Revance Therapeutics from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, November 16th. Finally, StockNews.com cut Revance Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Revance Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.20.

Insider Buying and Selling

In related news, CFO Tobin Schilke sold 3,701 shares of the stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $27.16, for a total transaction of $100,519.16. Following the transaction, the chief financial officer now owns 58,877 shares of the company’s stock, valued at approximately $1,599,099.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.10% of the stock is owned by corporate insiders.

Revance Therapeutics Company Profile

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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 DaxibotulinumtoxinA for injection, which has completed phase III clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; is in 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.

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