Wall Street analysts forecast that Revance Therapeutics Inc (NASDAQ:RVNC) will post sales of $870,000.00 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued 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 would suggest a positive year-over-year growth rate of 26.1%. The company is expected to announce its next quarterly earnings results on Thursday, August 1st.
On average, analysts expect that Revance Therapeutics will report full-year sales of $2.70 million for the current year, with estimates ranging from $1.40 million to $6.28 million. For the next fiscal year, analysts anticipate that the firm will report sales of $32.70 million, with estimates ranging from $6.87 million to $56.81 million. Zacks’ sales 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 announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.83) by ($0.02). The business had revenue of $0.28 million during 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%.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Revance Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. ValuEngine raised Revance Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Wells Fargo & Co assumed coverage on Revance Therapeutics in a research report on Friday, February 15th. They set a “market perform” rating and a $17.83 price target on the stock. HC Wainwright assumed coverage on Revance Therapeutics in a research report on Thursday, February 14th. They set a “buy” rating and a $25.00 price target on the stock. Finally, Mizuho reissued a “buy” rating on shares of Revance Therapeutics in a research report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $33.73.
In other Revance Therapeutics news, CEO L Daniel Browne sold 11,613 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $15.51, for a total value of $180,117.63. Following the completion of the sale, the chief executive officer now directly owns 165,687 shares in the company, valued at $2,569,805.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP purchased a new position in shares of Revance Therapeutics in the third quarter worth about $1,883,000. MetLife Investment Advisors LLC lifted its position in Revance Therapeutics by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 24,099 shares of the biopharmaceutical company’s stock valued at $599,000 after purchasing an additional 8,567 shares during the last quarter. Teachers Advisors LLC lifted its position in Revance Therapeutics by 4.6% during the third quarter. Teachers Advisors LLC now owns 62,902 shares of the biopharmaceutical company’s stock valued at $1,563,000 after purchasing an additional 2,741 shares during the last quarter. Vanguard Group Inc. lifted its position in Revance Therapeutics by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,506,795 shares of the biopharmaceutical company’s stock valued at $37,444,000 after purchasing an additional 28,683 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its position in Revance Therapeutics by 4.6% during the third quarter. Federated Investors Inc. PA now owns 83,810 shares of the biopharmaceutical company’s stock valued at $2,083,000 after purchasing an additional 3,680 shares during the last quarter. 80.25% of the stock is currently owned by institutional investors and hedge funds.
Revance Therapeutics stock traded down $0.20 during mid-day trading on Thursday, hitting $11.66. The company’s stock had a trading volume of 331,424 shares, compared to its average volume of 434,595. The company has a market capitalization of $523.68 million, a PE ratio of -2.96 and a beta of 0.75. The company has a quick ratio of 8.13, a current ratio of 8.13 and a debt-to-equity ratio of 0.13. Revance Therapeutics has a one year low of $10.51 and a one year high of $32.45.
About Revance Therapeutics
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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