Equities analysts expect that Revance Therapeutics Inc. (NASDAQ:RVNC) will post $12.68 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Revance Therapeutics’ earnings, with the lowest sales estimate coming in at $260,000.00 and the highest estimate coming in at $25.10 million. Revance Therapeutics posted sales of $80,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 15,750%. The company is scheduled to announce its next quarterly earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that Revance Therapeutics will report full-year sales of $9.36 million for the current year, with estimates ranging from $500,000.00 to $25.30 million. For the next year, analysts anticipate that the firm will post sales of $1.65 million per share, with estimates ranging from $600,000.00 to $2.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Revance Therapeutics.
Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.99) by ($0.15). Revance Therapeutics had a negative net margin of 46,025.57% and a negative return on equity of 64.40%. The company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.09 million. During the same period in the previous year, the firm earned ($0.95) earnings per share. The firm’s quarterly revenue was down 50.7% on a year-over-year basis.
A number of research firms have recently weighed in on RVNC. Zacks Investment Research cut Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, February 14th. BidaskClub raised Revance Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 14th. Barclays set a $40.00 price target on Revance Therapeutics and gave the stock a “buy” rating in a report on Tuesday, December 19th. Cantor Fitzgerald set a $50.00 price target on Revance Therapeutics and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, William Blair reissued an “outperform” rating on shares of Revance Therapeutics in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $45.17.
Shares of RVNC stock traded down $0.58 during trading hours on Friday, reaching $32.17. 87,876 shares of the company traded hands, compared to its average volume of 331,759. Revance Therapeutics has a 12-month low of $18.42 and a 12-month high of $37.45. The stock has a market cap of $1,202.99, a P/E ratio of -8.17 and a beta of 1.33.
In other news, CFO Lauren P. Silvernail sold 3,431 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $30.85, for a total transaction of $105,846.35. Following the sale, the chief financial officer now directly owns 68,371 shares of the company’s stock, valued at approximately $2,109,245.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lauren P. Silvernail sold 25,867 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $34.50, for a total value of $892,411.50. Following the sale, the chief financial officer now directly owns 98,821 shares in the company, valued at $3,409,324.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,366 shares of company stock worth $3,182,947. 5.05% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of Revance Therapeutics by 3.2% during the 4th quarter. Franklin Resources Inc. now owns 3,394,202 shares of the biopharmaceutical company’s stock worth $121,343,000 after acquiring an additional 105,424 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Revance Therapeutics by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,144,669 shares of the biopharmaceutical company’s stock worth $76,672,000 after acquiring an additional 135,356 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Revance Therapeutics by 4,063.7% during the 4th quarter. Alliancebernstein L.P. now owns 907,695 shares of the biopharmaceutical company’s stock worth $32,450,000 after acquiring an additional 885,895 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Revance Therapeutics by 127.1% during the 4th quarter. Jennison Associates LLC now owns 857,536 shares of the biopharmaceutical company’s stock worth $30,657,000 after acquiring an additional 480,008 shares in the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in shares of Revance Therapeutics during the 4th quarter worth approximately $14,300,000. 95.01% of the stock is currently owned by institutional investors and hedge funds.
About Revance Therapeutics
Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.
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