On Friday, there was an unusually high volume of activity regarding the buying and selling options at Revance Therapeutics, Inc. (NASDAQ: RVNC). As a result, investors have purchased put options on the stock to 30,032 shares. This represents a 751% increase over the typical volume of 3,531 put options, so the difference between the two is significant.
On November 8th, the quarterly earnings report for Revance Therapeutics (NASDAQ: RVNC) was made available to the general public. The biopharmaceutical company’s profits per share for the quarter came in at $1.17, which was lower than the consensus forecast of $0.85 that was made by analysts, which was $0.32 lower than what was achieved. The revenue for the quarter came in significantly higher than the $28.76 million that analysts had anticipated, coming in at a total of $29.02 million instead. The net margin and return on equity for Revance Therapeutics were in red, with respective negative values of 251.92% and 461.54%. Neither figure was positive. Sell-side analysts anticipate that Revance Therapeutics will end the current fiscal year with -4.38 cents per share, representing a loss for the company.
In recent months, several institutional investors have rebalanced their investment portfolios by shifting the percentage of their stock holdings. Mark Sheptoff Financial Planning LLC made a new investment in Revance Therapeutics during the third quarter of 2018 valued at $54,000. The amount of Revance Therapeutics stock that Advisor Group Holdings Inc. owned as of the end of the first quarter of 2018 increased by 60.6% from the beginning of the year. Advisor Group Holdings Inc. now has 2,838 shares of the biopharmaceutical company’s stock, valued at $56,000, after purchasing an additional 1,071 shares throughout the most recent period. Princeton Global Asset Management LLC made an additional investment of approximately $68,000 into Revance Therapeutics during the third quarter, bringing the total value of its ownership stake to approximately $1.1 million at the end of the period. Point72 Hong Kong Ltd. invested approximately $92,000 to acquire a new stake in Revance Therapeutics during the second quarter of this fiscal year. The growth of the company necessitated the incorporation of this new interest. During the third quarter of 2018, Quantbot Technologies LP expanded its holdings in Revance Therapeutics, bringing the total value of this investment to approximately $138,000. Financial institutions currently own a total of 82.68% of the company’s shares.
The price of a share of RVNC stock on the NASDAQ increased by $0.77 during the lunch hour on Friday, reaching $19.52 per share. Today’s trading volume was 23,695 shares, significantly lower than its typical volume of 1,025,435 shares. A debt-to-equity ratio comes in at 2.60; a quick ratio comes in at 5.33; a current ratio comes in at 5.56; and a quick ratio comes in at 5.33. Over the past year, the price of Revance Therapeutics has remained stable at $30.95 throughout its entire range of trading activity. The stock price has been moving toward an average of $21.21 over the past 50 trading days, while the price has been moving toward $20.98 over the past 200 trading days. The company’s price-to-earnings ratio is -4.78, and its beta value is equal to 0.57. The company currently has a market capitalization of $1.61 billion.
Various research analysts from various companies have provided recent commentary on the stock of RVNC. In a research note distributed by Morgan Stanley on November 9th, it was stated that the firm had lowered its price objective for Revance Therapeutics from $27.00 to $25.00 and designated the stock as having “equal weight.” Needham & Company LLC shifted its rating for Revance Therapeutics from “hold” to “buy” in a report on the company’s investment strategy published on Thursday, September 8th. In a report released on September 9th, Mizuho upgraded Revance Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $26.00 to $30.00. Additionally, the price target for the stock was raised from $26.00 to $30.00. In a report released on November 16th, Barclays increased its price objective on Revance Therapeutics stock from $35.00 to $37.00.
Additionally, they upgraded the company’s rating from “underweight” to “overweight.” StockNews.com formerly assigned relevance Therapeutics a “hold” rating, which was changed to a “sell” rating in a research report published on Thursday, October 13th. This was the last time that the rating of the company was altered in any way. One of the research analysts covering the company has recommended selling shares of the company’s stock. In contrast, two other analysts have maintained a hold rating, and five have maintained a buy rating on the company’s stock. The stock is currently rated as a “Moderate Buy” by analysts, and its price targets range from $37.90 to $40.00 on average, according to the data that Bloomberg.com presented.
The biotechnology company Revance Therapeutics, Inc. designs, manufactures and distributes neuromodulators for a wide variety of therapeutic and aesthetic applications on a global scale. It is called Revance Therapeutics, and that is the company’s name. DaxibotulinumtoxinA for injection, the company’s lead drug candidate, has completed phase III clinical trials to treat glabellar lines (also known as frown lines) and cervical dystonia. It is currently participating in phase II clinical trials for treating upper facial lines, moderate-to-severe dynamic forehead lines, and moderate-to-severe lateral canthal lines. In addition, it has finished the phase II clinical trials for treating adult upper limb spasticity and plantar fasciitis with flying colors.