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Revance Therapeutics, Inc. (RVNC) Soars 8.6%: Is Further Upside Left in the Stock?
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Revance Therapeutics, Inc. (RVNC - Free Report) shares rallied 8.6% in the last trading session to close at $31.70. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 48% gain over the past four weeks.
The rise in share price is attributable to positive investor sentiment for its recently approved marketed drug Daxxify, which received approval last September for the temporary improvement of moderate to severe frown lines in adults. Earlier this month, management announced preliminary revenues of $10.5-$11.5 million from Daxxify product sales for fourth-quarter 2022, despite limited commercial availability of the drug.
This company is expected to post quarterly loss of $1.12 per share in its upcoming report, which represents a year-over-year change of -20.4%. Revenues are expected to be $38.14 million, up 47% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Revance Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised 80.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RVNC going forward to see if this recent jump can turn into more strength down the road.
Revance Therapeutics, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Kymera Therapeutics, Inc. (KYMR - Free Report) , another stock in the same industry, closed the last trading session 5.6% higher at $35. KYMR has returned 12.8% in the past month.
Kymera Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.57. Compared to the company's year-ago EPS, this represents a change of +13.6%. Kymera Therapeutics, Inc. currently boasts a Zacks Rank of #2 (Buy).
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Revance Therapeutics, Inc. (RVNC) Soars 8.6%: Is Further Upside Left in the Stock?
Revance Therapeutics, Inc. (RVNC - Free Report) shares rallied 8.6% in the last trading session to close at $31.70. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 48% gain over the past four weeks.
The rise in share price is attributable to positive investor sentiment for its recently approved marketed drug Daxxify, which received approval last September for the temporary improvement of moderate to severe frown lines in adults. Earlier this month, management announced preliminary revenues of $10.5-$11.5 million from Daxxify product sales for fourth-quarter 2022, despite limited commercial availability of the drug.
This company is expected to post quarterly loss of $1.12 per share in its upcoming report, which represents a year-over-year change of -20.4%. Revenues are expected to be $38.14 million, up 47% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Revance Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised 80.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RVNC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Revance Therapeutics, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Kymera Therapeutics, Inc. (KYMR - Free Report) , another stock in the same industry, closed the last trading session 5.6% higher at $35. KYMR has returned 12.8% in the past month.
Kymera Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.57. Compared to the company's year-ago EPS, this represents a change of +13.6%. Kymera Therapeutics, Inc. currently boasts a Zacks Rank of #2 (Buy).