Brokerages expect Revance Therapeutics Inc. (NASDAQ:RVNC) to announce earnings per share (EPS) of ($0.63) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Revance Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.92) and the highest estimate coming in at ($0.20). Revance Therapeutics reported earnings per share of ($0.94) in the same quarter last year, which suggests a positive year over year growth rate of 33%. The business is expected to announce its next earnings report on Tuesday, May 8th.
On average, analysts expect that Revance Therapeutics will report full-year earnings of ($3.56) per share for the current fiscal year, with EPS estimates ranging from ($3.91) to ($3.25). For the next fiscal year, analysts expect that the firm will post earnings of ($4.13) per share, with EPS estimates ranging from ($4.67) to ($3.85). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Revance Therapeutics.
Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.09 million. During the same period in the prior year, the business earned ($0.95) earnings per share. The company’s revenue for the quarter was down 50.7% on a year-over-year basis.
A number of equities analysts have weighed in on the stock. Needham & Company LLC assumed coverage on shares of Revance Therapeutics in a research note on Monday, March 26th. They issued a “buy” rating and a $42.00 target price for the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $50.00 target price on shares of Revance Therapeutics in a research note on Monday, April 2nd. Piper Jaffray set a $48.00 target price on shares of Revance Therapeutics and gave the stock a “buy” rating in a research note on Thursday, March 1st. Guggenheim reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Revance Therapeutics in a research note on Thursday, January 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of Revance Therapeutics in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $45.17.
RVNC stock traded up $0.50 during trading on Wednesday, hitting $33.35. 403,057 shares of the stock traded hands, compared to its average volume of 332,259. Revance Therapeutics has a one year low of $18.42 and a one year high of $37.45. The company has a market capitalization of $1,184.63, a P/E ratio of -8.32 and a beta of 1.33.
In related news, CEO L Daniel Browne sold 27,283 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $31.43, for a total transaction of $857,504.69. Following the completion of the sale, the chief executive officer now directly owns 131,208 shares of the company’s stock, valued at $4,123,867.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Lauren P. Silvernail sold 3,431 shares of the business’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 $2,109,245.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,366 shares of company stock valued at $3,182,947. Insiders own 5.05% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Fred Alger Management Inc. bought a new stake in shares of Revance Therapeutics during the fourth quarter worth approximately $894,000. Schwab Charles Investment Management Inc. raised its stake in shares of Revance Therapeutics by 4.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 117,258 shares of the biopharmaceutical company’s stock worth $3,231,000 after buying an additional 5,501 shares during the last quarter. Nicholas Investment Partners LP bought a new stake in shares of Revance Therapeutics during the fourth quarter worth approximately $4,043,000. Swiss National Bank raised its stake in shares of Revance Therapeutics by 45.7% during the fourth quarter. Swiss National Bank now owns 51,650 shares of the biopharmaceutical company’s stock worth $1,846,000 after buying an additional 16,200 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Revance Therapeutics by 6.7% during the fourth quarter. Bank of New York Mellon Corp now owns 2,144,669 shares of the biopharmaceutical company’s stock worth $76,672,000 after buying an additional 135,356 shares during the last quarter. 95.01% of the stock is owned by institutional investors and hedge funds.
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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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