Brokers Offer Predictions for Revance Therapeutics, Inc.’s FY2017 Earnings (NASDAQ:RVNC)
Revance Therapeutics, Inc. (NASDAQ:RVNC) – Equities research analysts at Cantor Fitzgerald issued their FY2017 earnings per share estimates for Revance Therapeutics in a research report issued on Monday. Cantor Fitzgerald analyst L. Chen expects that the biopharmaceutical company will post earnings per share of ($3.67) for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $50.00 price target on the stock. Cantor Fitzgerald also issued estimates for Revance Therapeutics’ FY2018 earnings at ($3.31) EPS.
A number of other brokerages also recently commented on RVNC. BidaskClub upgraded shares of Revance Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. ValuEngine raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Aegis reissued a “buy” rating and issued a $36.00 target price on shares of Revance Therapeutics in a research report on Thursday, June 8th. Piper Jaffray Companies reissued a “buy” rating and issued a $28.00 target price on shares of Revance Therapeutics in a research report on Wednesday. Finally, Zacks Investment Research cut shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.25.
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Revance Therapeutics (NASDAQ RVNC) remained flat at $23.80 during trading on Wednesday. 5,926 shares of the stock were exchanged. The firm’s 50-day moving average price is $24.83 and its 200 day moving average price is $21.77. The stock’s market cap is $720.50 million. Revance Therapeutics has a 12 month low of $12.35 and a 12 month high of $28.30.
Revance Therapeutics (NASDAQ:RVNC) last posted its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.84) by $0.10. The firm had revenue of $0.08 million during the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.71) earnings per share.
In related news, CFO Lauren P. Silvernail sold 1,793 shares of Revance Therapeutics stock in a transaction 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 sale, the chief financial officer now owns 36,566 shares in the company, valued at $738,633.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO L Daniel Browne sold 19,713 shares of Revance Therapeutics stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $20.35, for a total transaction of $401,159.55. Following the completion of the sale, the chief executive officer now 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. Over the last three months, insiders have sold 33,793 shares of company stock worth $685,576. Corporate insiders own 18.86% of the company’s stock.
Several hedge funds have recently modified their holdings of RVNC. Bank of America Corp DE raised its stake 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 worth $151,000 after buying an additional 1,651 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Revance Therapeutics during the fourth quarter worth about $174,000. American International Group Inc. raised its stake 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 worth $262,000 after buying an additional 834 shares during the period. Parametric Portfolio Associates LLC raised its stake 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 worth $570,000 after buying an additional 1,524 shares during the period. Finally, Swiss National Bank raised its stake 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 worth $683,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 87.29% of the company’s stock.
Revance Therapeutics Company Profile
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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