Revance Therapeutics Inc. (NASDAQ:RVNC) CFO Lauren P. Silvernail sold 25,867 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $34.50, for a total value of $892,411.50. Following the completion of the transaction, the chief financial officer now owns 98,821 shares of the company’s stock, valued at approximately $3,409,324.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Revance Therapeutics stock traded down $0.70 on Friday, hitting $30.35. The company’s stock had a trading volume of 218,158 shares, compared to its average volume of 337,011. Revance Therapeutics Inc. has a 1 year low of $18.42 and a 1 year high of $37.45.
Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.99) by ($0.15). Revance Therapeutics had a negative return on equity of 64.40% and a negative net margin of 46,025.57%. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.09 million. During the same quarter in the previous year, the firm posted ($0.95) earnings per share. The company’s quarterly revenue was down 50.7% on a year-over-year basis. analysts forecast that Revance Therapeutics Inc. will post -3.56 earnings per share for the current fiscal year.
A number of brokerages have issued reports on RVNC. Zacks Investment Research downgraded Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, February 14th. BidaskClub raised Revance Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 14th. Barclays set a $40.00 price objective on Revance Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Cantor Fitzgerald set a $50.00 price objective on Revance Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, SunTrust Banks increased their target price on Revance Therapeutics to $53.00 and gave the company a “buy” rating in a research report on Friday, December 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. Revance Therapeutics currently has an average rating of “Buy” and a consensus target price of $45.17.
Several institutional investors have recently modified their holdings of the company. Fred Alger Management Inc. purchased a new stake in shares of Revance Therapeutics during the 4th quarter valued at approximately $894,000. Schwab Charles Investment Management Inc. raised its position in Revance Therapeutics by 4.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 117,258 shares of the biopharmaceutical company’s stock valued at $3,231,000 after purchasing an additional 5,501 shares during the period. Nicholas Investment Partners LP purchased a new stake in Revance Therapeutics in the fourth quarter valued at approximately $4,043,000. Swiss National Bank raised its position in Revance Therapeutics by 45.7% in the fourth quarter. Swiss National Bank now owns 51,650 shares of the biopharmaceutical company’s stock valued at $1,846,000 after purchasing an additional 16,200 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Revance Therapeutics by 6.7% in the fourth quarter. Bank of New York Mellon Corp now owns 2,144,669 shares of the biopharmaceutical company’s stock valued at $76,672,000 after purchasing an additional 135,356 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.
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About Revance Therapeutics
Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.
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