Brokerages expect Revance Therapeutics Inc (NASDAQ:RVNC) to announce sales of $870,000.00 for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Revance Therapeutics’ earnings. The highest sales estimate is $2.00 million and the lowest is $480,000.00. Revance Therapeutics reported sales of $690,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 26.1%. The firm is expected to issue its next earnings report on Thursday, August 1st.
On average, analysts expect that Revance Therapeutics will report full-year sales of $2.70 million for the current financial year, with estimates ranging from $1.40 million to $6.28 million. For the next year, analysts forecast that the company will report sales of $32.70 million, with estimates ranging from $6.87 million to $56.81 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Revance Therapeutics.
Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.83) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $1.85 million. Revance Therapeutics had a negative net margin of 3,745.97% and a negative return on equity of 75.31%.
Several equities research analysts have recently commented on RVNC shares. HC Wainwright started coverage on shares of Revance Therapeutics in a research report on Thursday, February 14th. They set a “buy” rating and a $25.00 price target for the company. Stifel Nicolaus started coverage on shares of Revance Therapeutics in a research report on Monday, January 28th. They set a “buy” rating and a $50.00 price target for the company. SunTrust Banks reduced their price target on shares of Revance Therapeutics to $29.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Mizuho reaffirmed a “buy” rating on shares of Revance Therapeutics in a research report on Wednesday, February 27th. Finally, ValuEngine raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $33.73.
RVNC traded down $0.20 during midday trading on Thursday, hitting $11.66. 331,424 shares of the company traded hands, compared to its average volume of 434,595. Revance Therapeutics has a 52 week low of $10.51 and a 52 week high of $32.45. The stock has a market capitalization of $523.68 million, a P/E ratio of -2.96 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 8.13 and a current ratio of 8.13.
In other news, CEO L Daniel Browne sold 11,613 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $15.51, for a total transaction of $180,117.63. Following the completion of the sale, the chief executive officer now owns 165,687 shares of the company’s stock, valued at approximately $2,569,805.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in Revance Therapeutics by 33.2% in the 1st quarter. Wellington Management Group LLP now owns 5,744,134 shares of the biopharmaceutical company’s stock worth $90,528,000 after acquiring an additional 1,432,790 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Revance Therapeutics by 2.4% in the 1st quarter. JPMorgan Chase & Co. now owns 3,897,870 shares of the biopharmaceutical company’s stock worth $61,431,000 after acquiring an additional 92,811 shares in the last quarter. BlackRock Inc. increased its holdings in Revance Therapeutics by 10.7% in the 1st quarter. BlackRock Inc. now owns 3,550,138 shares of the biopharmaceutical company’s stock worth $55,951,000 after acquiring an additional 343,538 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in Revance Therapeutics by 47.5% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 3,409,217 shares of the biopharmaceutical company’s stock worth $53,729,000 after acquiring an additional 1,098,314 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Revance Therapeutics by 3.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,542,242 shares of the biopharmaceutical company’s stock worth $51,175,000 after acquiring an additional 77,625 shares in the last quarter. 80.25% of the stock is owned by institutional investors.
Revance Therapeutics Company Profile
Revance Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development, manufacture, and commercialization of novel neuromodulators for various aesthetic and therapeutic indications. The company's lead drug candidate is DaxibotulinumtoxinA for injection (DAXI), which is in phase III clinical trials to treat glabellar (frown) lines and cervical dystonia; and in phase II clinical trials for the treatment of plantar fasciitis, adult upper limb spasticity, and chronic migraine.
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