Revance Therapeutics Inc (NASDAQ:RVNC) – Investment analysts at Cantor Fitzgerald cut their FY2018 earnings estimates for Revance Therapeutics in a report issued on Sunday, Zacks Investment Research reports. Cantor Fitzgerald analyst L. Chen now expects that the biopharmaceutical company will post earnings of ($3.91) per share for the year, down from their previous forecast of ($3.17). Cantor Fitzgerald currently has a “Buy” rating and a $50.00 price target on the stock.
Several other research analysts have also issued reports on the company. Zacks Investment Research upgraded Revance Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Goldman Sachs Group began coverage on Revance Therapeutics in a research report on Monday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. Piper Jaffray Companies set a $48.00 target price on Revance Therapeutics and gave the stock a “buy” rating in a report on Thursday, March 1st. William Blair reiterated an “outperform” rating on shares of Revance Therapeutics in a report on Thursday, March 1st. Finally, BidaskClub upgraded Revance Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $45.45.
Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.99) by ($0.15). Revance Therapeutics had a negative return on equity of 64.40% and a negative net margin of 46,025.57%. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.09 million. During the same quarter in the prior year, the business earned ($0.95) earnings per share. The firm’s revenue for the quarter was down 50.7% on a year-over-year basis.
In other Revance Therapeutics news, CEO L Daniel Browne sold 27,283 shares of Revance Therapeutics stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $31.43, for a total value of $857,504.69. Following the sale, the chief executive officer now owns 131,208 shares of the company’s stock, valued at approximately $4,123,867.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lauren P. Silvernail sold 20,000 shares of Revance Therapeutics stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $32.00, for a total value of $640,000.00. Following the completion of the sale, the chief financial officer now directly owns 82,954 shares in the company, valued at approximately $2,654,528. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,283 shares of company stock worth $1,812,505. Corporate insiders own 18.86% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in shares of Revance Therapeutics by 3.2% in the 4th quarter. Franklin Resources Inc. now owns 3,394,202 shares of the biopharmaceutical company’s stock valued at $121,343,000 after purchasing an additional 105,424 shares during the period. Bank of New York Mellon Corp increased its position in shares of Revance Therapeutics by 6.7% in the fourth quarter. Bank of New York Mellon Corp now owns 2,144,669 shares of the biopharmaceutical company’s stock valued at $76,672,000 after acquiring an additional 135,356 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Revance Therapeutics by 7.3% in the second quarter. Vanguard Group Inc. now owns 931,623 shares of the biopharmaceutical company’s stock valued at $24,595,000 after acquiring an additional 63,505 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Revance Therapeutics by 4,063.7% in the fourth quarter. Alliancebernstein L.P. now owns 907,695 shares of the biopharmaceutical company’s stock valued at $32,450,000 after acquiring an additional 885,895 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Revance Therapeutics by 127.1% in the fourth quarter. Jennison Associates LLC now owns 857,536 shares of the biopharmaceutical company’s stock valued at $30,657,000 after acquiring an additional 480,008 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.
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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