Revance Therapeutics Inc (NASDAQ:RVNC) insider Cyril Allouche sold 2,188 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $23.72, for a total value of $51,899.36. Following the completion of the transaction, the insider now directly owns 6,938 shares of the company’s stock, valued at $164,569.36. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Revance Therapeutics stock traded down $0.54 during mid-day trading on Friday, hitting $23.46. 180,701 shares of the company were exchanged, compared to its average volume of 292,462. The company has a market capitalization of $889.55 million, a price-to-earnings ratio of -5.85 and a beta of 1.35. Revance Therapeutics Inc has a 12-month low of $21.45 and a 12-month high of $37.45.
Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.04. The company had revenue of $2.36 million during the quarter, compared to the consensus estimate of $0.49 million. Revance Therapeutics had a negative return on equity of 61.45% and a negative net margin of 4,205.52%. Research analysts anticipate that Revance Therapeutics Inc will post -3.83 earnings per share for the current fiscal year.
RVNC has been the subject of several research analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Revance Therapeutics in a research note on Monday, September 17th. Cantor Fitzgerald set a $50.00 price objective on Revance Therapeutics and gave the company a “buy” rating in a research note on Thursday, August 2nd. ValuEngine raised Revance Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research raised Revance Therapeutics from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday. Finally, BidaskClub raised Revance Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.60.
A number of institutional investors have recently added to or reduced their stakes in RVNC. Wells Fargo & Company MN increased its position in Revance Therapeutics by 83.9% during the first quarter. Wells Fargo & Company MN now owns 25,635 shares of the biopharmaceutical company’s stock worth $789,000 after buying an additional 11,695 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Revance Therapeutics by 12.5% during the first quarter. The Manufacturers Life Insurance Company now owns 20,446 shares of the biopharmaceutical company’s stock worth $630,000 after buying an additional 2,274 shares in the last quarter. California State Teachers Retirement System increased its position in Revance Therapeutics by 13.4% during the first quarter. California State Teachers Retirement System now owns 40,990 shares of the biopharmaceutical company’s stock worth $1,262,000 after buying an additional 4,858 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Revance Therapeutics during the first quarter worth $189,000. Finally, Allianz Asset Management GmbH increased its position in Revance Therapeutics by 16.5% during the first quarter. Allianz Asset Management GmbH now owns 79,437 shares of the biopharmaceutical company’s stock worth $2,447,000 after buying an additional 11,271 shares in the last quarter. 94.42% of the stock is owned by institutional investors.
Revance Therapeutics Company Profile
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: Cost of Capital
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