Zacks: Brokerages Anticipate Revance Therapeutics Inc (RVNC) Will Post Earnings of -$0.97 Per Share

Brokerages forecast that Revance Therapeutics Inc (NASDAQ:RVNC) will post earnings per share (EPS) of ($0.97) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Revance Therapeutics’ earnings, with the lowest EPS estimate coming in at ($1.00) and the highest estimate coming in at ($0.93). Revance Therapeutics posted earnings of ($1.14) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.9%. The firm is expected to report its next earnings results on Wednesday, February 27th.

On average, analysts expect that Revance Therapeutics will report full year earnings of ($3.81) per share for the current fiscal year, with EPS estimates ranging from ($3.82) to ($3.78). For the next fiscal year, analysts anticipate that the business will report earnings of ($3.88) per share, with EPS estimates ranging from ($4.20) to ($3.56). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Revance Therapeutics.

Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.04. The firm had revenue of $2.36 million during the quarter, compared to analysts’ expectations of $0.49 million. Revance Therapeutics had a negative return on equity of 61.45% and a negative net margin of 4,205.52%.

RVNC has been the subject of several recent research reports. Zacks Investment Research raised Revance Therapeutics from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, November 7th. BidaskClub downgraded Revance Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday. Guggenheim raised Revance Therapeutics from a “neutral” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Friday. ValuEngine downgraded Revance Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $50.00 price target on shares of Revance Therapeutics in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $46.50.

RVNC stock remained flat at $$20.99 during midday trading on Friday. The company had a trading volume of 523,313 shares, compared to its average volume of 212,294. Revance Therapeutics has a 52-week low of $20.52 and a 52-week high of $37.45.

In other Revance Therapeutics news, insider Cyril Allouche sold 2,188 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $23.72, for a total transaction of $51,899.36. Following the completion of the transaction, the insider now owns 6,938 shares of the company’s stock, valued at $164,569.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.86% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new stake in shares of Revance Therapeutics in the first quarter valued at $189,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Revance Therapeutics in the second quarter valued at $209,000. Metropolitan Life Insurance Co. NY grew its position in shares of Revance Therapeutics by 25.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 2,232 shares during the period. Voya Investment Management LLC grew its position in shares of Revance Therapeutics by 19.6% in the second quarter. Voya Investment Management LLC now owns 12,433 shares of the biopharmaceutical company’s stock valued at $341,000 after purchasing an additional 2,041 shares during the period. Finally, Nottingham Advisors Inc. grew its position in shares of Revance Therapeutics by 17.7% in the second quarter. Nottingham Advisors Inc. now owns 13,312 shares of the biopharmaceutical company’s stock valued at $365,000 after purchasing an additional 2,000 shares during the period. 94.14% of the stock is owned by institutional investors.

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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