Brokers Issue Forecasts for Revance Therapeutics Inc’s FY2021 Earnings (RVNC)

Revance Therapeutics Inc (NASDAQ:RVNC) – Analysts at SunTrust Banks lowered their FY2021 earnings estimates for shares of Revance Therapeutics in a note issued to investors on Tuesday. SunTrust Banks analyst J. Boris now anticipates that the biopharmaceutical company will post earnings per share of ($2.03) for the year, down from their previous forecast of ($2.02). SunTrust Banks currently has a “Buy” rating and a $53.00 target price on the stock.

Revance Therapeutics (NASDAQ:RVNC) last announced its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.06). The business had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.05 million. Revance Therapeutics had a negative return on equity of 67.85% and a negative net margin of 37,161.00%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.64) EPS.

RVNC has been the topic of several other research reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Revance Therapeutics in a research note on Tuesday, September 26th. ValuEngine cut shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, December 4th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Revance Therapeutics in a research note on Friday, October 27th. Guggenheim initiated coverage on shares of Revance Therapeutics in a research note on Tuesday, December 5th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Revance Therapeutics from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Revance Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $43.11.

Shares of Revance Therapeutics (RVNC) traded up $0.55 on Friday, hitting $34.50. 223,365 shares of the stock traded hands, compared to its average volume of 408,706. The firm has a market cap of $1,214.52, a PE ratio of -9.08 and a beta of 1.62. Revance Therapeutics has a 12 month low of $18.00 and a 12 month high of $37.45.

In other news, CEO L Daniel Browne sold 7,600 shares of Revance Therapeutics stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $24.94, for a total value of $189,544.00. Following the transaction, the chief executive officer now directly owns 133,188 shares of the company’s stock, valued at $3,321,708.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark J. Foley bought 20,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was purchased at an average cost of $26.96 per share, for a total transaction of $539,200.00. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at $161,760. The disclosure for this purchase can be found here. Over the last three months, insiders sold 25,262 shares of company stock worth $658,282. 18.86% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in Revance Therapeutics by 1.0% during the second quarter. Ameriprise Financial Inc. now owns 22,904 shares of the biopharmaceutical company’s stock valued at $604,000 after purchasing an additional 225 shares in the last quarter. Legal & General Group Plc grew its position in Revance Therapeutics by 8.1% during the second quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock valued at $152,000 after purchasing an additional 438 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Revance Therapeutics by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 18,304 shares of the biopharmaceutical company’s stock valued at $483,000 after purchasing an additional 1,275 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Revance Therapeutics by 6.2% during the second quarter. Parametric Portfolio Associates LLC now owns 29,112 shares of the biopharmaceutical company’s stock valued at $769,000 after purchasing an additional 1,711 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Revance Therapeutics by 10.4% during the second quarter. Rhumbline Advisers now owns 25,333 shares of the biopharmaceutical company’s stock valued at $669,000 after purchasing an additional 2,395 shares in the last quarter. 76.69% of the stock is currently owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Revance Therapeutics (NASDAQ:RVNC)

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