Revance Therapeutics Inc to Post FY2023 Revenue of $1.99 Per Share, SunTrust Banks Forecasts (RVNC)

Revance Therapeutics Inc to Post FY2023 Revenue of $1.99 Per Share, SunTrust Banks Forecasts (RVNC)

Revance Therapeutics Inc (NASDAQ:RVNC) – Equities researchers at SunTrust Banks issued their FY2023 earnings estimates for Revance Therapeutics in a research report issued to clients and investors on Wednesday, January 16th, Zacks Investment Research reports. SunTrust Banks analyst A. Verma forecasts that the biopharmaceutical company will post earnings of $1.99 per share for the year.

RVNC has been the topic of a number of other reports. Cantor Fitzgerald reissued a “buy” rating and set a $50.00 target price on shares of Revance Therapeutics in a report on Thursday, November 1st. Zacks Investment Research raised Revance Therapeutics from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Tuesday, January 22nd. BidaskClub raised Revance Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Mizuho reissued a “buy” rating on shares of Revance Therapeutics in a report on Friday, January 18th. Finally, ValuEngine raised Revance Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $44.88.

Shares of RVNC stock traded up $0.69 during trading on Friday, reaching $17.80. 330,640 shares of the company’s stock were exchanged, compared to its average volume of 576,548. The firm has a market capitalization of $632.90 million, a PE ratio of -4.44 and a beta of 0.86. Revance Therapeutics has a twelve month low of $16.56 and a twelve month high of $34.55.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rothschild & Co. Asset Management US Inc. boosted its stake in Revance Therapeutics by 1.2% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 49,441 shares of the biopharmaceutical company’s stock valued at $995,000 after purchasing an additional 590 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Revance Therapeutics by 8.5% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 11,492 shares of the biopharmaceutical company’s stock valued at $231,000 after purchasing an additional 900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Revance Therapeutics by 97.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,352 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 1,159 shares during the period. Voya Investment Management LLC boosted its stake in Revance Therapeutics by 19.6% in the 2nd quarter. Voya Investment Management LLC now owns 12,433 shares of the biopharmaceutical company’s stock valued at $341,000 after purchasing an additional 2,041 shares during the period. 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 valued at $299,000 after purchasing an additional 2,232 shares during the period. Institutional investors and hedge funds own 92.65% 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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