Revance Therapeutics (NASDAQ:RVNC) Sees Strong Trading Volume

Revance Therapeutics Inc (NASDAQ:RVNC) shares saw unusually-high trading volume on Monday . 1,539,251 shares were traded during trading, an increase of 265% from the previous session’s volume of 421,246 shares.The stock last traded at $20.02 and had previously closed at $17.90.

A number of analysts recently commented on the company. Mizuho reaffirmed a “buy” rating and issued a $34.00 target price on shares of Revance Therapeutics in a research report on Tuesday, November 5th. Zacks Investment Research downgraded Revance Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Wells Fargo & Co upgraded Revance Therapeutics from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $12.50 to $20.00 in a report on Wednesday, October 30th. William Blair reissued an “outperform” rating on shares of Revance Therapeutics in a research report on Tuesday, August 6th. Finally, Goldman Sachs Group initiated coverage on shares of Revance Therapeutics in a research note on Monday. They set a “buy” rating and a $25.00 price target for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Revance Therapeutics has a consensus rating of “Buy” and a consensus target price of $27.88.

The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.46 and a current ratio of 6.46. The firm has a market capitalization of $761.46 million, a P/E ratio of -4.20 and a beta of 1.26. The firm has a 50 day simple moving average of $16.01 and a two-hundred day simple moving average of $13.00.

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

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of Revance Therapeutics by 47.5% in the second quarter. Renaissance Technologies LLC now owns 1,330,973 shares of the biopharmaceutical company’s stock worth $17,263,000 after buying an additional 428,900 shares in the last quarter. Aperio Group LLC increased its holdings in shares of Revance Therapeutics by 166.2% in the second quarter. Aperio Group LLC now owns 34,551 shares of the biopharmaceutical company’s stock worth $448,000 after purchasing an additional 21,570 shares during the last quarter. M&T Bank Corp bought a new stake in shares of Revance Therapeutics in the second quarter worth about $153,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Revance Therapeutics in the second quarter worth about $1,010,000. Finally, Vanguard Group Inc. lifted its position in shares of Revance Therapeutics by 7.0% in the second quarter. Vanguard Group Inc. now owns 2,249,144 shares of the biopharmaceutical company’s stock worth $29,172,000 after buying an additional 146,444 shares in the last quarter. Institutional investors and hedge funds own 94.52% of the company’s stock.

About Revance Therapeutics (NASDAQ:RVNC)

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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