HighTower Advisors LLC Sells 387,987 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC)

HighTower Advisors LLC trimmed its position in Revance Therapeutics, Inc. (NASDAQ:RVNC) by 72.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 147,400 shares of the biopharmaceutical company’s stock after selling 387,987 shares during the period. HighTower Advisors LLC’s holdings in Revance Therapeutics were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Certuity LLC bought a new position in Revance Therapeutics in the 2nd quarter worth $26,000. FORA Capital LLC acquired a new stake in shares of Revance Therapeutics in the third quarter valued at about $54,000. Creative Planning bought a new position in shares of Revance Therapeutics in the third quarter worth about $56,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Revance Therapeutics during the 2nd quarter worth about $33,000. Finally, Accredited Investors Inc. bought a new stake in Revance Therapeutics during the 3rd quarter valued at approximately $67,000. 97.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on RVNC. StockNews.com started coverage on Revance Therapeutics in a report on Thursday, December 12th. They set a “hold” rating for the company. Mizuho dropped their target price on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Barclays reissued an “equal weight” rating and issued a $7.00 price target (down from $10.00) on shares of Revance Therapeutics in a report on Friday, September 13th. Needham & Company LLC restated a “hold” rating on shares of Revance Therapeutics in a report on Friday, November 8th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $6.60 target price on shares of Revance Therapeutics in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Revance Therapeutics currently has an average rating of “Hold” and a consensus target price of $8.96.

Revance Therapeutics Stock Performance

Shares of Revance Therapeutics stock opened at $3.07 on Thursday. The firm has a market cap of $322.05 million, a P/E ratio of -1.59 and a beta of 0.81. The firm’s 50-day simple moving average is $4.43 and its 200-day simple moving average is $4.48. Revance Therapeutics, Inc. has a twelve month low of $2.30 and a twelve month high of $9.74.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $59.88 million during the quarter, compared to the consensus estimate of $67.73 million. On average, equities analysts forecast that Revance Therapeutics, Inc. will post -1.57 earnings per share for the current fiscal 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.