Revance Therapeutics (RVNC) Trading 19.5% Higher

Revance Therapeutics Inc (NASDAQ:RVNC)’s share price traded up 19.5% on Wednesday . The stock traded as high as $24.99 and last traded at $24.91. 1,780,639 shares traded hands during trading, an increase of 740% from the average session volume of 212,025 shares. The stock had previously closed at $20.85.

Several equities analysts have weighed in on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $50.00 price objective 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 research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Revance Therapeutics currently has an average rating of “Buy” and an average target price of $46.50.

The firm has a market cap of $756.03 million, a P/E ratio of -6.21 and a beta of 1.33.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.04. Revance Therapeutics had a negative net margin of 4,205.52% and a negative return on equity of 61.45%. The business had revenue of $2.36 million for the quarter, compared to analysts’ expectations of $0.49 million. On average, research analysts forecast that Revance Therapeutics Inc will post -3.81 earnings per share for the current fiscal year.

In other news, insider Cyril Allouche sold 2,188 shares of the business’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $23.72, for a total transaction of $51,899.36. Following the transaction, the insider now directly owns 6,938 shares in the company, valued at approximately $164,569.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.05% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB purchased a new position in shares of Revance Therapeutics during the 2nd quarter valued at $209,000. Cubist Systematic Strategies LLC lifted its stake in shares of Revance Therapeutics by 43.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,795 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 2,654 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of Revance Therapeutics by 25.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 2,232 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Revance Therapeutics by 19.6% in the 2nd quarter. Voya Investment Management LLC now owns 12,433 shares of the biopharmaceutical company’s stock valued at $341,000 after purchasing an additional 2,041 shares during the last quarter. Finally, Nottingham Advisors Inc. lifted its stake in shares of Revance Therapeutics by 17.7% in the 2nd quarter. Nottingham Advisors Inc. now owns 13,312 shares of the biopharmaceutical company’s stock valued at $365,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 92.86% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Revance Therapeutics (RVNC) Trading 19.5% Higher” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another site, it was illegally copied and reposted in violation of United States & international copyright and trademark laws. The original version of this story can be accessed at https://www.dispatchtribunal.com/2018/12/06/revance-therapeutics-rvnc-trading-19-5-higher.html.

About Revance Therapeutics (NASDAQ:RVNC)

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.

Further Reading: The Role of a Fiduciary and Individual Investors

Receive News & Ratings for Revance Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revance Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply