A Hedged Approach To Trading Revance Therapeutics, Inc. (RVNC)

The stock of Revance Therapeutics, Inc. (NASDAQ:RVNC) has been Initiated to Overweight by Barclays in its latest research note that was published on June 11. RVNC was given a price target of $28, with other Wall Street analysts also giving their reports regarding the stock. Wells Fargo, analysts launched coverage of RVNC stock with a Market Perform rating, according to their flash note to investors on February 15.

Revance’s stock is covered by 11 analysts, with 3 of them rating the stock as Buy. It has been deemed to have strong buy by 6 of the analysts, 2 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 3 analysts. 5 of them rated it as strong buy with 2 of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that RVNC has an average analyst rating of 1.91.

Revance Therapeutics, Inc., which has current market capitalization of above $551 Million, published its last quarter earnings on June 30, 2019. The company was able to amass $0.28 million in revenue. This figure is $0.87 million more than what analysts had expected which was $1.14 million. During the first quarter of the year, Revance also recorded $-0.85 earnings per share (EPS) which is $0.03 above the $-0.88 estimated by Thomson Reuter’s analyst, leading to a surprise factor of -3.28%.

RVNC declined by $-0.03 during the normal trading session on Monday and reaching a high of $12.52 during the day while it closed the day at $11.98. The Revance stock had a low trading volume of 0.33 million shares on that day, which is low compared to the average daily volume of 421.42M shares. RVNC has also gained 0.34% of its value over the past 7 days. However, the stock has declined by 2.28% in the 3 months of the year. Over the past six months meanwhile, it has lost 32.70% while it has lost 40.49% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -9.79% from its 3 months high price. However, taking another look at RVNC will indicate that it is trading +15.53% away from its 90-day low. Looking at the bigger picture, the Revance Therapeutics, Inc. stock has dropped by -56.91% from its 52-week high while it has surged by +15.53% from its 52-week low price.

On March 18, 2019 Allouche Cyril, Principal Accounting Officer sold 498 shares of the company. The average price for that transaction was $15.48 per share, which meant that Allouche Cyril earned $7709.04 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with CEO and President, Browne L Daniel selling 11613 shares of this stock on March 18, 2019. The average selling price for the stock was $15.51 per share, with the sold stock accruing $180117.6. Following this transaction, the CEO and President Browne L Daniel now holds 90443 shares of the company, which is worth around $1135060.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 55.33%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 30.85%. Over the past 20 days, Revance’s Stochastic %K stood at 60.46% while its Stochastic %D was revealed to be 62.29%.