Revance Therapeutics, Inc. (RVNC) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS
Revance Therapeutics, Inc. (NASDAQ:RVNC) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.06), Briefing.com reports. The company had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.05 million. Revance Therapeutics had a negative return on equity of 55.21% and a negative net margin of 32,936.67%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the company posted ($0.64) earnings per share.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Revance Therapeutics from a “sell” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, August 9th. BidaskClub cut shares of Revance Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies restated a “buy” rating and issued a $28.00 price objective on shares of Revance Therapeutics in a research report on Friday, October 27th. Cantor Fitzgerald set a $50.00 price objective on shares of Revance Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, JMP Securities assumed coverage on shares of Revance Therapeutics in a research report on Tuesday, August 22nd. They issued an “outperform” rating and a $34.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.20.
In other news, CFO Lauren P. Silvernail sold 11,164 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $26.67, for a total transaction of $297,743.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO L Daniel Browne sold 22,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $22.76, for a total value of $518,928.00. Following the transaction, the chief executive officer now directly owns 178,850 shares in the company, valued at approximately $4,070,626. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,226 shares of company stock worth $1,196,318. Corporate insiders own 18.86% 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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