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

by · The Markets Daily

Revance Therapeutics, Inc. (NASDAQ:RVNC – Get Free Report) was the target of some unusual options trading on Monday. Stock traders purchased 2,392 put options on the company. This represents an increase of approximately 144% compared to the average daily volume of 981 put options.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RVNC shares. StockNews.com started coverage on Revance Therapeutics in a research report on Friday. They set a “hold” rating for the company. HC Wainwright downgraded Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Guggenheim reissued a “neutral” rating on shares of Revance Therapeutics in a research note on Monday, August 12th. Barclays reissued an “equal weight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Revance Therapeutics in a research note on Friday, September 13th. Finally, Stifel Nicolaus dropped their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Revance Therapeutics has a consensus rating of “Hold” and a consensus price target of $10.29.

Get Our Latest Report on RVNC

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RVNC. Capital World Investors grew its stake in Revance Therapeutics by 16.8% in the first quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock valued at $68,612,000 after purchasing an additional 2,006,459 shares in the last quarter. Stonepine Capital Management LLC lifted its position in shares of Revance Therapeutics by 41.7% in the second quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after buying an additional 823,658 shares during the last quarter. Opaleye Management Inc. acquired a new stake in shares of Revance Therapeutics in the first quarter worth about $3,862,000. Federated Hermes Inc. lifted its position in shares of Revance Therapeutics by 43.0% in the second quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after buying an additional 672,803 shares during the last quarter. Finally, Integral Health Asset Management LLC acquired a new stake in shares of Revance Therapeutics in the second quarter worth about $1,285,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Revance Therapeutics Stock Performance

Shares of RVNC stock traded up $1.21 on Monday, reaching $5.91. 7,175,789 shares of the company’s stock traded hands, compared to its average volume of 2,752,941. Revance Therapeutics has a 12-month low of $2.30 and a 12-month high of $9.74. The company has a market capitalization of $619.49 million, a P/E ratio of -1.86 and a beta of 0.98. The business’s 50 day moving average price is $5.85 and its two-hundred day moving average price is $4.30.

Revance Therapeutics (NASDAQ:RVNC – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.12. The business had revenue of $65.39 million for the quarter, compared to analysts’ expectations of $66.30 million. During the same quarter in the prior year, the firm posted ($0.80) EPS. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. Research analysts predict that Revance Therapeutics will post -1.53 earnings per share for the current year.

Revance Therapeutics Company Profile

(Get Free Report)

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 DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed 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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