Brokerages Anticipate Revance Therapeutics Inc (RVNC) Will Post Quarterly Sales of $1.74 Million
Brokerages expect Revance Therapeutics Inc (NASDAQ:RVNC) to post sales of $1.74 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Revance Therapeutics’ earnings. The lowest sales estimate is $500,000.00 and the highest is $2.51 million. Revance Therapeutics reported sales of $40,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 4,250%. The firm is scheduled to announce its next earnings results on Wednesday, February 27th.
According to Zacks, analysts expect that Revance Therapeutics will report full-year sales of $4.96 million for the current year, with estimates ranging from $3.70 million to $5.75 million. For the next year, analysts expect that the company will post sales of $6.01 million, with estimates ranging from $2.00 million to $10.00 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Revance Therapeutics.
Revance Therapeutics (NASDAQ:RVNC) last issued its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.04. Revance Therapeutics had a negative return on equity of 61.45% and a negative net margin of 4,205.52%. The company had revenue of $2.36 million during the quarter, compared to analyst estimates of $0.49 million.
In other Revance Therapeutics news, insider Cyril Allouche sold 2,188 shares of the company’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $23.72, for a total value of $51,899.36. Following the sale, the insider now directly owns 6,938 shares in the company, valued at $164,569.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.05% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Nottingham Advisors Inc. grew its position in Revance Therapeutics by 17.7% in the second quarter. Nottingham Advisors Inc. now owns 13,312 shares of the biopharmaceutical company’s stock valued at $365,000 after acquiring an additional 2,000 shares during the period. Voya Investment Management LLC grew its position in Revance Therapeutics by 19.6% in the second quarter. Voya Investment Management LLC now owns 12,433 shares of the biopharmaceutical company’s stock valued at $341,000 after acquiring an additional 2,041 shares during the period. Metropolitan Life Insurance Co. NY grew its position in Revance Therapeutics by 25.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock valued at $299,000 after acquiring an additional 2,232 shares during the period. The Manufacturers Life Insurance Company grew its position in Revance Therapeutics by 12.5% in the first quarter. The Manufacturers Life Insurance Company now owns 20,446 shares of the biopharmaceutical company’s stock valued at $630,000 after acquiring an additional 2,274 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in Revance Therapeutics by 43.2% in the second quarter. Cubist Systematic Strategies LLC now owns 8,795 shares of the biopharmaceutical company’s stock valued at $241,000 after acquiring an additional 2,654 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Shares of RVNC traded down $0.62 on Tuesday, reaching $20.33. 252,800 shares of the stock traded hands, compared to its average volume of 292,921. The stock has a market cap of $776.37 million, a PE ratio of -5.07 and a beta of 1.35. Revance Therapeutics has a 12 month low of $20.14 and a 12 month high of $37.45.
About Revance Therapeutics
Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.
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