Brokers Set Expectations for Revance Therapeutics, Inc.’s FY2017 Earnings (RVNC)
Revance Therapeutics, Inc. (NASDAQ:RVNC) – Equities research analysts at William Blair cut their FY2017 earnings per share estimates for shares of Revance Therapeutics in a report released on Thursday. William Blair analyst T. Lugo now anticipates that the biopharmaceutical company will post earnings per share of ($3.92) for the year, down from their prior estimate of ($3.89). William Blair also issued estimates for Revance Therapeutics’ FY2018 earnings at ($4.20) EPS.
Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by $0.10. The firm had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.07 million. Revance Therapeutics had a negative net margin of 32,179.33% and a negative return on equity of 50.01%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.71) EPS.
A number of other equities analysts have also recently weighed in on RVNC. Aegis reaffirmed a “buy” rating and set a $36.00 price objective on shares of Revance Therapeutics in a research report on Thursday, June 8th. ValuEngine raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Finally, Zacks Investment Research raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 1st.
Shares of Revance Therapeutics (NASDAQ:RVNC) opened at 23.95 on Monday. The company has a 50 day moving average price of $21.77 and a 200-day moving average price of $20.60. The stock’s market cap is $725.04 million. Revance Therapeutics has a one year low of $12.35 and a one year high of $25.45.
In other Revance Therapeutics news, CFO Lauren P. Silvernail sold 1,793 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $20.20, for a total value of $36,218.60. Following the completion of the transaction, the chief financial officer now owns 36,566 shares of the company’s stock, valued at approximately $738,633.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO L Daniel Browne sold 19,713 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $20.35, for a total transaction of $401,159.55. Following the completion of the transaction, the chief executive officer now directly owns 183,932 shares of the company’s stock, valued at approximately $3,743,016.20. The disclosure for this sale can be found here. Insiders have sold a total of 33,793 shares of company stock valued at $685,576 in the last ninety days. 18.86% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of RVNC. Bank of America Corp DE boosted its position in shares of Revance Therapeutics by 29.5% in the first quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 1,651 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Revance Therapeutics during the fourth quarter valued at approximately $174,000. American International Group Inc. boosted its position in shares of Revance Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 834 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Revance Therapeutics by 5.9% in the first quarter. Parametric Portfolio Associates LLC now owns 27,401 shares of the biopharmaceutical company’s stock valued at $570,000 after buying an additional 1,524 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Revance Therapeutics by 6.8% in the first quarter. Swiss National Bank now owns 32,850 shares of the biopharmaceutical company’s stock valued at $683,000 after buying an additional 2,100 shares in the last quarter. 87.28% of the stock is owned by institutional investors.
About Revance Therapeutics
Revance Therapeutics, Inc is a clinical-stage biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical.
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