Revance Therapeutics Sees Unusually Large Options Volume (NASDAQ:RVNC)

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Revance Therapeutics Sees Unusually Large Options Volume (NASDAQ:RVNC)

Revance Therapeutics, Inc. (NASDAQ:RVNC) saw some unusual options trading on Thursday. Stock investors acquired 3,038 call options on the company. This is an increase of approximately 611% compared to the typical daily volume of 427 call options.

A number of brokerages recently issued reports on RVNC. Mizuho upped their price objective on shares of Revance Therapeutics from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, February 23rd. Zacks Investment Research upgraded shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, February 26th. Needham & Company LLC lifted their target price on Revance Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, January 8th. Finally, HC Wainwright increased their price target on Revance Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, March 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.67.

In other Revance Therapeutics news, insider Aubrey Rankin sold 33,119 shares of the firm’s stock in a transaction that occurred on Thursday, March 4th. The shares were sold at an average price of $25.43, for a total value of $842,216.17. Following the completion of the sale, the insider now directly owns 79,776 shares in the company, valued at $2,028,703.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.

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A number of institutional investors have recently modified their holdings of RVNC. New York State Common Retirement Fund lifted its position in shares of Revance Therapeutics by 9.6% during the 4th quarter. New York State Common Retirement Fund now owns 57,100 shares of the biopharmaceutical company’s stock valued at $1,618,000 after acquiring an additional 5,000 shares during the period. Great West Life Assurance Co. Can boosted its position in Revance Therapeutics by 7,981.6% during the third quarter. Great West Life Assurance Co. Can now owns 222,244 shares of the biopharmaceutical company’s stock worth $471,000 after purchasing an additional 219,494 shares in the last quarter. Strs Ohio purchased a new position in Revance Therapeutics in the 3rd quarter valued at about $32,000. Aperio Group LLC boosted its stake in shares of Revance Therapeutics by 1.2% during the 4th quarter. Aperio Group LLC now owns 43,528 shares of the biopharmaceutical company’s stock worth $1,234,000 after purchasing an additional 522 shares during the last quarter. Finally, ExodusPoint Capital Management LP grew its holdings in shares of Revance Therapeutics by 73.4% during the third quarter. ExodusPoint Capital Management LP now owns 85,659 shares of the biopharmaceutical company’s stock worth $2,153,000 after buying an additional 36,263 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Shares of RVNC traded up $0.05 during mid-day trading on Thursday, hitting $27.25. The company’s stock had a trading volume of 506,286 shares, compared to its average volume of 471,895. The firm has a 50-day simple moving average of $27.63 and a 200 day simple moving average of $27.00. Revance Therapeutics has a 1-year low of $12.52 and a 1-year high of $34.62. The firm has a market capitalization of $1.95 billion, a P/E ratio of -5.91 and a beta of 1.42. The company has a current ratio of 7.07, a quick ratio of 7.01 and a debt-to-equity ratio of 0.48.

Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Sunday, February 21st. The biopharmaceutical company reported ($1.24) EPS for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.01. Revance Therapeutics had a negative return on equity of 85.72% and a negative net margin of 5,818.87%. As a group, sell-side analysts predict that Revance Therapeutics will post -4.5 EPS for the current fiscal year.

Revance Therapeutics Company Profile

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 DaxibotulinumtoxinA for injection (DAXI), which has completed phase III clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; is in 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.

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