Revance Therapeutics Inc (NASDAQ: RVNC): The Stock To Bet On For Economic Progress In The Months Ahead

In the last trading session, 1.72 million shares of the Revance Therapeutics Inc (NASDAQ:RVNC) were traded, and its beta was 1.09. Most recently the company’s share price was $4.51, and it changed around -$0.22 or -4.65% from the last close, which brings the market valuation of the company to $470.03M. RVNC currently trades at a discount to its 52-week high of $37.98, offering almost -742.13% off that amount. The share price’s 52-week low was $4.57, which indicates that the current value has fallen by an impressive -1.33% since then. We note from Revance Therapeutics Inc’s average daily trading volume that its 10-day average is 1.37 million shares, with the 3-month average coming to 1.83 million.

Revance Therapeutics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.75. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended RVNC as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Revance Therapeutics Inc is expected to report earnings per share of -$0.75 for the current quarter.

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Revance Therapeutics Inc (NASDAQ:RVNC) trade information

Instantly RVNC has showed a red trend with a performance of -4.65% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -48.69% year-to-date, but still down -3.01% over the last five days. On the other hand, Revance Therapeutics Inc (NASDAQ:RVNC) is -35.39% down in the 30-day period. We can see from the shorts that 10.87 million shares have been sold at a short interest cover period of 4.95 day(s).

The consensus price target as assigned by Wall Street analysts is $32, which translates to bulls needing to increase their stock price by 85.91% from its current value. Analyst projections state that RVNC is forecast to be at a low of $24 and a high of $37.

Revance Therapeutics Inc (RVNC) estimates and forecasts

Revance Therapeutics Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -60.68 percent over the past six months and at a 43.34% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -1.40% in revenue this quarter, and will report an increase of 36.30% in the next quarter. The year-over-year growth rate is expected to be 20.40%, up from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $56.63 million in revenue for the current quarter. 7 analysts expect Revance Therapeutics Inc to make $68.21 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $49.33 million and $58.13 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14.80%. Forecasts for the next quarter put sales growth at 17.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 0.57%. Revance Therapeutics Inc earnings are expected to increase by 21.94% in 2024, but the outlook is positive 11.60% per year for the next five years.

RVNC Dividends

Revance Therapeutics Inc’s next quarterly earnings report is expected to be released around May 06 and May 21.

Revance Therapeutics Inc (NASDAQ:RVNC)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 8.48% of Revance Therapeutics Inc shares, and 76.00% of them are in the hands of institutional investors. The stock currently has a share float of 83.03%. Revance Therapeutics Inc stock is held by 266 institutions, with Capital World Investors being the largest institutional investor. By Jun 29, 2023, it held 10.89% of the shares, which is about 9.57 million shares worth $242.34 million.

Blackrock Inc., with 7.42% or 6.53 million shares worth $165.19 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Smallcap World Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 6.38 million shares worth $161.44 million, making up 7.25% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.56 million shares worth around $64.77 million, which represents about 2.91% of the total shares outstanding.