FY2017 Earnings Forecast for Revance Therapeutics, Inc. Issued By Cantor Fitzgerald (RVNC)
Revance Therapeutics, Inc. (NASDAQ:RVNC) – Equities research analysts at Cantor Fitzgerald raised their FY2017 earnings per share (EPS) estimates for Revance Therapeutics in a research note issued to investors on Tuesday. Cantor Fitzgerald analyst L. Chen now anticipates that the biopharmaceutical company will post earnings of ($3.65) per share for the year, up from their prior forecast of ($3.67). Cantor Fitzgerald has a “Overweight” rating and a $50.00 price target on the stock. Cantor Fitzgerald also issued estimates for Revance Therapeutics’ FY2018 earnings at ($3.30) EPS.
Revance Therapeutics (NASDAQ:RVNC) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.03. Revance Therapeutics had a negative net margin of 32,936.67% and a negative return on equity of 55.21%. The company had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter in the previous year, the company earned ($0.88) EPS. Revance Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis.
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Several other research firms also recently issued reports on RVNC. BidaskClub raised shares of Revance Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. ValuEngine raised shares of Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Aegis reaffirmed a “buy” rating and set a $36.00 price objective on shares of Revance Therapeutics in a report on Thursday, June 8th. Piper Jaffray Companies set a $28.00 price objective on shares of Revance Therapeutics and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, Zacks Investment Research raised shares of Revance Therapeutics from a “sell” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $34.75.
Revance Therapeutics (NASDAQ RVNC) opened at 22.75 on Thursday. The company’s 50 day moving average is $24.56 and its 200-day moving average is $21.88. The stock’s market cap is $688.71 million. Revance Therapeutics has a 1-year low of $12.35 and a 1-year high of $28.30.
Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in Revance Therapeutics by 8.1% in the second quarter. Legal & General Group Plc now owns 5,815 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 438 shares in the last quarter. Bank of America Corp DE increased its position in Revance Therapeutics by 29.5% in the first quarter. Bank of America Corp DE now owns 7,247 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 1,651 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Revance Therapeutics during the fourth quarter valued at $174,000. Trexquant Investment LP acquired a new position in Revance Therapeutics during the second quarter valued at $231,000. Finally, American International Group Inc. increased its position in Revance Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,590 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 834 shares in the last quarter. 87.29% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Lauren P. Silvernail sold 1,793 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.20, for a total value of $36,218.60. Following the transaction, the chief financial officer now directly owns 36,566 shares of the company’s stock, valued at $738,633.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO L Daniel Browne sold 19,713 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $20.35, for a total transaction of $401,159.55. Following the completion of the transaction, the chief executive officer now directly owns 183,932 shares in the company, valued at $3,743,016.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,793 shares of company stock worth $685,576. Insiders own 18.86% of the company’s stock.
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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