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

Revance Therapeutics Inc (NASDAQ:RVNC) was the target of some unusual options trading on Monday. Stock investors acquired 2,783 call options on the company. This is an increase of 3,876% compared to the average volume of 70 call options.

Shares of NASDAQ RVNC opened at $20.03 on Tuesday. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $15.85 and its two-hundred day moving average is $12.97. The company has a market cap of $807.44 million, a P/E ratio of -5.08 and a beta of 1.26. Revance Therapeutics has a 12 month low of $9.88 and a 12 month high of $24.99.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, meeting the consensus estimate of ($0.96). The company had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.40 million. Revance Therapeutics had a negative return on equity of 87.59% and a negative net margin of 3,745.97%. Sell-side analysts expect that Revance Therapeutics will post -3.64 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY lifted its position in Revance Therapeutics by 41.1% in the third quarter. Metropolitan Life Insurance Co NY now owns 16,138 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 4,702 shares during the period. Voloridge Investment Management LLC bought a new position in Revance Therapeutics during the 3rd quarter valued at about $254,000. Public Employees Retirement System of Ohio bought a new position in Revance Therapeutics during the 3rd quarter valued at about $179,000. Point72 Asset Management L.P. boosted its position in Revance Therapeutics by 88.6% in the third quarter. Point72 Asset Management L.P. now owns 218,155 shares of the biopharmaceutical company’s stock valued at $2,836,000 after buying an additional 102,455 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in Revance Therapeutics by 1.2% in the third quarter. California State Teachers Retirement System now owns 68,618 shares of the biopharmaceutical company’s stock valued at $892,000 after buying an additional 819 shares in the last quarter. 94.52% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on RVNC shares. Wells Fargo & Co upgraded shares of Revance Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $12.50 to $20.00 in a research note on Wednesday, October 30th. HC Wainwright set a $23.00 target price on shares of Revance Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 15th. Zacks Investment Research lowered shares of Revance Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. William Blair reiterated an “outperform” rating on shares of Revance Therapeutics in a report on Tuesday, August 6th. Finally, BidaskClub raised shares of Revance Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $27.88.

Revance Therapeutics Company Profile

Revance Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development, manufacture, and commercialization of novel neuromodulators for various aesthetic and therapeutic indications. The company's lead drug candidate is DaxibotulinumtoxinA for injection (DAXI), which is in phase III clinical trials to treat glabellar (frown) lines and cervical dystonia; and in phase II clinical trials for the treatment of plantar fasciitis, adult upper limb spasticity, and chronic migraine.

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