Analysts expect that Revance Therapeutics Inc (NASDAQ:RVNC) will report sales of $870,000.00 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Revance Therapeutics’ earnings. The lowest sales estimate is $480,000.00 and the highest is $2.00 million. Revance Therapeutics posted sales of $690,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.1%. The company is scheduled to report its next quarterly 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 post sales of $32.70 million, with estimates ranging from $6.87 million to $56.81 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Revance Therapeutics.
Revance Therapeutics (NASDAQ:RVNC) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.02). Revance Therapeutics had a negative net margin of 3,745.97% and a negative return on equity of 75.31%. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $1.85 million.
RVNC has been the topic of a number of research analyst reports. SunTrust Banks reduced their target price on Revance Therapeutics to $29.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Mizuho reissued a “buy” rating and issued a $37.00 price objective on shares of Revance Therapeutics in a research report on Wednesday, April 24th. ValuEngine lowered Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, February 25th. Wells Fargo & Co started coverage on Revance Therapeutics in a research report on Friday, February 15th. They issued a “market perform” rating and a $17.83 price objective on the stock. Finally, Zacks Investment Research lowered Revance Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $33.09.
In other Revance Therapeutics news, CEO L Daniel Browne sold 11,613 shares of the firm’s 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 transaction, the chief executive officer now directly owns 165,687 shares of the company’s stock, valued at $2,569,805.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Revance Therapeutics by 97.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,352 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 1,159 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Revance Therapeutics during the first quarter worth about $42,000. Edge Wealth Management LLC increased its position in shares of Revance Therapeutics by 550.0% during the first quarter. Edge Wealth Management LLC now owns 3,250 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 2,750 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Revance Therapeutics by 103.0% during the first quarter. Great West Life Assurance Co. Can now owns 5,183 shares of the biopharmaceutical company’s stock worth $81,000 after acquiring an additional 2,630 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Revance Therapeutics by 21.7% during the fourth quarter. Legal & General Group Plc now owns 6,445 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 1,150 shares during the last quarter. 94.65% of the stock is currently owned by institutional investors and hedge funds.
Revance Therapeutics stock traded down $0.11 during midday trading on Friday, reaching $10.86. The stock had a trading volume of 853,084 shares, compared to its average volume of 310,920. Revance Therapeutics has a twelve month low of $10.37 and a twelve month high of $31.65. The stock has a market capitalization of $482.75 million, a P/E ratio of -2.76 and a beta of 0.90. The company has a current ratio of 8.13, a quick ratio of 8.13 and a debt-to-equity ratio of 0.13.
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.
Further Reading: What is total return in investing?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Revance Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revance Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.