Cyril Allouche Sells 2,188 Shares of Revance Therapeutics Inc (RVNC) Stock

Revance Therapeutics Inc (NASDAQ:RVNC) insider Cyril Allouche sold 2,188 shares of Revance Therapeutics stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $23.72, for a total transaction of $51,899.36. Following the sale, the insider now owns 6,938 shares of the company’s stock, valued at $164,569.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of RVNC stock opened at $23.46 on Friday. The company has a market capitalization of $887.70 million, a P/E ratio of -5.85 and a beta of 1.35. Revance Therapeutics Inc has a fifty-two week low of $21.45 and a fifty-two week high of $37.45.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.04. The firm had revenue of $2.36 million during the quarter, compared to analysts’ expectations of $0.49 million. Revance Therapeutics had a negative net margin of 4,205.52% and a negative return on equity of 61.45%. Research analysts expect that Revance Therapeutics Inc will post -3.83 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in RVNC. Wells Fargo & Company MN grew its holdings in shares of Revance Therapeutics by 83.9% in the first quarter. Wells Fargo & Company MN now owns 25,635 shares of the biopharmaceutical company’s stock valued at $789,000 after purchasing an additional 11,695 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Revance Therapeutics by 12.5% in the first quarter. The Manufacturers Life Insurance Company now owns 20,446 shares of the biopharmaceutical company’s stock worth $630,000 after acquiring an additional 2,274 shares during the last quarter. California State Teachers Retirement System lifted its stake in Revance Therapeutics by 13.4% in the first quarter. California State Teachers Retirement System now owns 40,990 shares of the biopharmaceutical company’s stock worth $1,262,000 after acquiring an additional 4,858 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Revance Therapeutics in the first quarter worth approximately $189,000. Finally, Allianz Asset Management GmbH lifted its stake in Revance Therapeutics by 16.5% in the first quarter. Allianz Asset Management GmbH now owns 79,437 shares of the biopharmaceutical company’s stock worth $2,447,000 after acquiring an additional 11,271 shares during the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $50.00 price target on shares of Revance Therapeutics in a research report on Thursday, November 1st. ValuEngine cut shares of Revance Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. BidaskClub cut shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 15th. JMP Securities cut shares of Revance Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, September 17th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Revance Therapeutics in a research report on Monday, September 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. Revance Therapeutics presently has an average rating of “Buy” and an average target price of $46.60.

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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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