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

Revance Therapeutics, Inc. (NASDAQ:RVNC) was the recipient of some unusual options trading on Tuesday. Traders purchased 6,905 put options on the company. This is an increase of 136% compared to the average daily volume of 2,926 put options.

Institutional Investors Weigh In On Revance Therapeutics

A number of hedge funds have recently made changes to their positions in RVNC. Alpine Associates Management Inc. bought a new position in Revance Therapeutics in the 3rd quarter valued at approximately $21,605,000. LMR Partners LLP acquired a new position in shares of Revance Therapeutics during the 3rd quarter valued at $11,648,000. Stonepine Capital Management LLC boosted its position in shares of Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after purchasing an additional 823,658 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Revance Therapeutics in the third quarter worth approximately $3,763,000. Finally, Integral Health Asset Management LLC bought a new position in shares of Revance Therapeutics in the 2nd quarter worth $1,285,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RVNC shares. HC Wainwright reissued a “neutral” rating and set a $6.60 target price on shares of Revance Therapeutics in a research note on Friday, November 8th. StockNews.com assumed coverage on Revance Therapeutics in a research report on Tuesday. They set a “hold” rating for the company. Mizuho decreased their price objective on shares of Revance Therapeutics from $6.66 to $3.10 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Barclays reduced their target price on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, December 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Revance Therapeutics in a research note on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.39.

Revance Therapeutics Stock Performance

RVNC opened at $3.65 on Thursday. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $7.56. The firm has a market cap of $381.02 million, a P/E ratio of -1.89 and a beta of 0.86. The business’s fifty day moving average is $3.46 and its 200-day moving average is $4.58.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $59.88 million for the quarter, compared to analyst estimates of $67.73 million. On average, research analysts predict that Revance Therapeutics will post -1.57 earnings per share 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 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.