Mark J. Foley Sells 70,390 Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) Stock

Revance Therapeutics, Inc. (NASDAQ:RVNC – Get Rating) CEO Mark J. Foley sold 70,390 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $31.59, for a total value of $2,223,620.10. Following the transaction, the chief executive officer now owns 823,351 shares of the company’s stock, valued at $26,009,658.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Revance Therapeutics Price Performance

Shares of NASDAQ:RVNC opened at $28.63 on Friday. The company’s fifty day moving average is $30.84 and its two-hundred day moving average is $25.81. The company has a quick ratio of 4.71, a current ratio of 4.95 and a debt-to-equity ratio of 30.11. Revance Therapeutics, Inc. has a 12-month low of $11.27 and a 12-month high of $36.61. The company has a market cap of $2.37 billion, a P/E ratio of -5.95 and a beta of 0.86.

Revance Therapeutics (NASDAQ:RVNC – Get Rating) last announced its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.78). Revance Therapeutics had a negative net margin of 268.87% and a negative return on equity of 786.70%. The firm had revenue of $49.90 million for the quarter, compared to analyst estimates of $45.10 million. During the same period last year, the firm earned ($0.93) earnings per share. Revance Therapeutics’s revenue for the quarter was up 92.7% compared to the same quarter last year. Equities analysts expect that Revance Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RVNC has been the topic of several recent analyst reports. StockNews.com raised Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 5th. HC Wainwright reaffirmed a “buy” rating and issued a $42.00 price target on shares of Revance Therapeutics in a report on Wednesday, March 1st. Barclays upped their price target on Revance Therapeutics from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, March 1st. Needham & Company LLC upped their price target on Revance Therapeutics from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Finally, Guggenheim upped their price target on Revance Therapeutics to $36.00 in a report on Tuesday, November 15th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Revance Therapeutics has an average rating of “Moderate Buy” and an average price target of $40.09.

Hedge Funds Weigh In On Revance Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RVNC. Advisor Group Holdings Inc. grew its holdings in shares of Revance Therapeutics by 60.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,838 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 1,071 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Revance Therapeutics by 114.2% during the 1st quarter. Citigroup Inc. now owns 12,451 shares of the biopharmaceutical company’s stock valued at $243,000 after acquiring an additional 100,141 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Revance Therapeutics by 53.8% during the 1st quarter. MetLife Investment Management LLC now owns 39,127 shares of the biopharmaceutical company’s stock valued at $763,000 after acquiring an additional 13,694 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Revance Therapeutics by 358.8% during the 1st quarter. Panagora Asset Management Inc. now owns 49,123 shares of the biopharmaceutical company’s stock valued at $958,000 after acquiring an additional 38,416 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Revance Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,645,311 shares of the biopharmaceutical company’s stock valued at $71,084,000 after acquiring an additional 43,014 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Revance Therapeutics Company Profile

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Revance Therapeutics, Inc is a clinical stage biotechnology company, which engages in the development, manufacturing, and commercialization of novel botulinum toxin products for multiple aesthetic and therapeutic applications. The firm focuses on production of daxibotulinumtoxinA, a botulinum toxin, for aesthetic and therapeutic indications including facial wrinkles and muscle movement disorders.