$490,000.00 in Sales Expected for Revance Therapeutics Inc (RVNC) This Quarter

Wall Street brokerages expect Revance Therapeutics Inc (NASDAQ:RVNC) to post sales of $490,000.00 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Revance Therapeutics’ earnings. The lowest sales estimate is $100,000.00 and the highest is $700,000.00. Revance Therapeutics posted sales of $80,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 512.5%. The firm is expected to announce its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Revance Therapeutics will report full year sales of $1.89 million for the current financial year, with estimates ranging from $1.10 million to $2.28 million. For the next fiscal year, analysts forecast that the company will post sales of $2.03 million per share, with estimates ranging from $500,000.00 to $2.88 million. Zacks’ sales averages are an average based on a survey of analysts that follow Revance Therapeutics.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.02). The company had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.93 million. Revance Therapeutics had a negative net margin of 13,690.62% and a negative return on equity of 63.30%.

A number of brokerages have recently commented on RVNC. BidaskClub cut shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Cantor Fitzgerald restated a “buy” rating and set a $50.00 target price on shares of Revance Therapeutics in a report on Friday. Zacks Investment Research upgraded shares of Revance Therapeutics from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Wednesday, July 11th. Finally, ValuEngine upgraded shares of Revance Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $47.10.

NASDAQ:RVNC traded down $0.27 during trading hours on Friday, hitting $25.68. The company had a trading volume of 1,042,093 shares, compared to its average volume of 174,207. Revance Therapeutics has a 52 week low of $22.25 and a 52 week high of $37.45.

Institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in Revance Therapeutics in the 1st quarter worth about $189,000. Verition Fund Management LLC bought a new position in Revance Therapeutics in the 1st quarter worth about $233,000. Xact Kapitalforvaltning AB bought a new position in Revance Therapeutics in the 2nd quarter worth about $209,000. Levin Capital Strategies L.P. bought a new position in Revance Therapeutics in the 1st quarter worth about $277,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Revance Therapeutics by 25.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,875 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 2,232 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.

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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