Revance Therapeutics Inc (NASDAQ:RVNC) – Investment analysts at SunTrust Banks reduced their FY2021 earnings estimates for shares of Revance Therapeutics in a note issued to investors 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 currently has a “Buy” rating and a $53.00 price target on the stock.
A number of other research firms have also recently issued reports on RVNC. Guggenheim reissued a “neutral” rating and set a $42.00 price objective on shares of Revance Therapeutics in a research report on Thursday, January 4th. Mizuho reissued a “buy” rating and set a $54.00 price objective on shares of Revance Therapeutics in a research report on Friday, January 5th. 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 Thursday, January 4th. Barclays set a $40.00 price objective on shares of Revance Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, Zacks Investment Research cut shares of Revance Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Revance Therapeutics currently has an average rating of “Buy” and an average target price of $43.11.
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 Zacks’ 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 was up .0% compared to the same quarter last year. During the same period last year, the company posted ($0.64) EPS.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pura Vida Investments LLC acquired a new stake in shares of Revance Therapeutics in the 3rd quarter worth about $1,378,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Revance Therapeutics by 4.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 117,258 shares of the biopharmaceutical company’s stock worth $3,231,000 after acquiring an additional 5,501 shares during the last quarter. EAM Investors LLC raised its holdings in shares of Revance Therapeutics by 113.9% in the 3rd quarter. EAM Investors LLC now owns 72,518 shares of the biopharmaceutical company’s stock worth $1,998,000 after acquiring an additional 38,621 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Revance Therapeutics in the 3rd quarter worth about $144,000. Finally, Alps Advisors Inc. raised its holdings in shares of Revance Therapeutics by 11.1% in the 3rd quarter. Alps Advisors Inc. now owns 30,351 shares of the biopharmaceutical company’s stock worth $836,000 after acquiring an additional 3,027 shares during the last quarter. Institutional investors own 76.69% of the company’s stock.
In related news, CEO L Daniel Browne sold 7,600 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $24.94, for a total value of $189,544.00. Following the sale, the chief executive officer now owns 133,188 shares in the company, valued at approximately $3,321,708.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark J. Foley bought 20,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was acquired at an average price of $26.96 per share, for a total transaction of $539,200.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at $161,760. The disclosure for this purchase can be found here. Insiders sold a total of 25,262 shares of company stock worth $658,282 in the last 90 days. 18.86% of the stock is currently owned by company insiders.
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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.
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