Revance Therapeutics, Inc. (RVNC) Announces Quarterly Earnings Results
Revance Therapeutics, Inc. (NASDAQ:RVNC) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.06), Briefing.com reports. The company had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.05 million. Revance Therapeutics had a negative net margin of 37,161.00% and a negative return on equity of 64.92%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the company posted ($0.64) EPS.
Revance Therapeutics (RVNC) traded up $0.35 during mid-day trading on Friday, hitting $26.15. The stock had a trading volume of 109,562 shares, compared to its average volume of 142,655.
RVNC has been the subject of a number of research analyst reports. Zacks Investment Research raised Revance Therapeutics from a “sell” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, August 9th. BidaskClub lowered Revance Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reiterated a “buy” rating and issued a $28.00 price objective on shares of Revance Therapeutics in a report on Friday, October 27th. Cantor Fitzgerald set a $50.00 price objective on Revance Therapeutics and gave the stock a “buy” rating in a report on Tuesday, October 24th. Finally, JMP Securities began coverage on Revance Therapeutics in a report on Tuesday, August 22nd. They issued an “outperform” rating and a $34.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $35.20.
In related news, CEO L Daniel Browne sold 22,800 shares of Revance Therapeutics stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $22.76, for a total transaction of $518,928.00. Following the sale, the chief executive officer now owns 178,850 shares of the company’s stock, valued at approximately $4,070,626. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lauren P. Silvernail sold 11,164 shares of Revance Therapeutics stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $26.67, for a total value of $297,743.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,226 shares of company stock worth $1,196,318. Insiders own 18.86% of the company’s stock.
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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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