HC Wainwright Equities Analysts Reduce Earnings Estimates for Revance Therapeutics, Inc. (NASDAQ:RVNC)

Revance Therapeutics, Inc. (NASDAQ:RVNC) – HC Wainwright cut their FY2023 earnings per share (EPS) estimates for Revance Therapeutics in a report issued on Thursday, November 9th. HC Wainwright analyst D. Tsao now forecasts that the biopharmaceutical company will post earnings of ($3.11) per share for the year, down from their prior estimate of ($3.02). HC Wainwright currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Revance Therapeutics’ current full-year earnings is ($3.01) per share. HC Wainwright also issued estimates for Revance Therapeutics’ Q4 2023 earnings at ($0.81) EPS, Q1 2024 earnings at ($0.56) EPS, Q2 2024 earnings at ($0.59) EPS, Q3 2024 earnings at ($0.66) EPS, Q4 2024 earnings at ($0.55) EPS, FY2024 earnings at ($2.37) EPS, FY2025 earnings at ($1.25) EPS, FY2026 earnings at ($0.05) EPS and FY2027 earnings at $0.15 EPS.

Several other research firms have also recently commented on RVNC. Barclays cut their price target on Revance Therapeutics from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, October 23rd. Morgan Stanley decreased their price target on shares of Revance Therapeutics from $25.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. The Goldman Sachs Group dropped their price objective on shares of Revance Therapeutics from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, September 20th. StockNews.com began coverage on shares of Revance Therapeutics in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Needham & Company LLC dropped their price target on Revance Therapeutics from $35.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Revance Therapeutics has an average rating of “Moderate Buy” and an average price target of $28.30.

Revance Therapeutics Stock Performance

NASDAQ RVNC opened at $5.97 on Monday. The company has a debt-to-equity ratio of 14.20, a current ratio of 4.73 and a quick ratio of 4.65. The company’s fifty day moving average is $11.26 and its two-hundred day moving average is $20.93. Revance Therapeutics has a 52-week low of $5.78 and a 52-week high of $37.98. The firm has a market capitalization of $524.24 million, a price-to-earnings ratio of -1.20 and a beta of 0.92.

Institutional Investors Weigh In On Revance Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RVNC. Thrivent Financial for Lutherans boosted its holdings in Revance Therapeutics by 2,620.0% during the first quarter. Thrivent Financial for Lutherans now owns 2,020,981 shares of the biopharmaceutical company’s stock worth $65,096,000 after buying an additional 1,946,680 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Revance Therapeutics by 129.7% in the 4th quarter. Two Sigma Advisers LP now owns 1,165,700 shares of the biopharmaceutical company’s stock valued at $21,519,000 after acquiring an additional 658,200 shares during the period. Goldman Sachs Group Inc. boosted its stake in Revance Therapeutics by 58.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,740,902 shares of the biopharmaceutical company’s stock worth $44,062,000 after acquiring an additional 642,612 shares during the last quarter. Alliancebernstein L.P. increased its stake in Revance Therapeutics by 31.2% in the second quarter. Alliancebernstein L.P. now owns 2,596,263 shares of the biopharmaceutical company’s stock valued at $65,711,000 after purchasing an additional 617,706 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Revance Therapeutics by 16.5% in the third quarter. Vanguard Group Inc. now owns 4,312,896 shares of the biopharmaceutical company’s stock worth $116,449,000 after purchasing an additional 609,841 shares during the period. Institutional investors own 93.28% of the company’s stock.

Insider Buying and Selling at Revance Therapeutics

In other news, SVP Dwight Moxie sold 23,853 shares of Revance Therapeutics stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $17.81, for a total transaction of $424,821.93. Following the completion of the sale, the senior vice president now owns 55,066 shares in the company, valued at approximately $980,725.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.10% of the company’s stock.

About Revance Therapeutics

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally. The company's lead drug candidate is DaxibotulinumtoxinA for injection, which has completed phase III clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; is in phase II clinical trials to treat upper facial lines, moderate or severe dynamic forehead lines, and moderate or severe lateral canthal lines; and has completed Phase II clinical trials for the treatment of adult upper limb spasticity and plantar fasciitis.