SunTrust Banks Comments on Revance Therapeutics Inc’s FY2021 Earnings (RVNC)
Revance Therapeutics Inc (NASDAQ:RVNC) – Equities research analysts at SunTrust Banks cut their FY2021 earnings per share (EPS) estimates for Revance Therapeutics in a report released on Tuesday. SunTrust Banks analyst J. Boris now forecasts that the biopharmaceutical company will earn ($2.03) per share for the year, down from their prior forecast of ($2.02). SunTrust Banks has a “Buy” rating and a $53.00 price target on the stock.
Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.06). The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. Revance Therapeutics had a negative net margin of 37,161.00% and a negative return on equity of 67.85%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.64) earnings per share.
Shares of Revance Therapeutics (NASDAQ RVNC) traded up $0.55 during trading hours on Friday, reaching $34.50. 223,365 shares of the company traded hands, compared to its average volume of 408,706. The company has a market cap of $1,214.52, a P/E ratio of -9.08 and a beta of 1.62. Revance Therapeutics has a one year low of $18.00 and a one year high of $37.45.
Hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. lifted its position in shares of Revance Therapeutics by 20.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 111,757 shares of the biopharmaceutical company’s stock worth $2,951,000 after purchasing an additional 19,267 shares during the period. Rhumbline Advisers lifted its position in shares of Revance Therapeutics by 10.4% in the 2nd quarter. Rhumbline Advisers now owns 25,333 shares of the biopharmaceutical company’s stock worth $669,000 after purchasing an additional 2,395 shares during the period. Legal & General Group Plc lifted its position in shares of Revance Therapeutics by 8.1% in the 2nd quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 438 shares during the period. Teachers Advisors LLC lifted its position in shares of Revance Therapeutics by 21.3% in the 2nd quarter. Teachers Advisors LLC now owns 40,882 shares of the biopharmaceutical company’s stock worth $1,079,000 after purchasing an additional 7,184 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Revance Therapeutics by 1.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 22,904 shares of the biopharmaceutical company’s stock worth $604,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 76.69% of the company’s stock.
In related news, Director Mark J. Foley bought 20,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were acquired at an average cost of $26.96 per share, for a total transaction of $539,200.00. Following the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at $161,760. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO L Daniel Browne sold 7,600 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $24.94, for a total transaction of $189,544.00. Following the completion of the transaction, the chief executive officer now owns 133,188 shares in the company, valued at $3,321,708.72. The disclosure for this sale can be found here. Insiders sold a total of 25,262 shares of company stock worth $658,282 over the last 90 days. 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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