Revance Therapeutics down as Q4 prelim sales, annual forecast fall below ests

Revance Therapeutics

08/01/2024 15:55

** Shares of Revance Therapeutics  RVNC.O  fall 13.8% to
$7.20 in morning trading
    ** Stock set for biggest one-day percentage fall if losses
hold
    ** Reports Q4 prelim sales to be between $58 mln and $59 mln
vs analysts' avg. estimate of $61.7 mln - LSEG data
     ** Forecasts 2024 product revenue of at least $280 mln vs
avg analysts' estimates of $299.9 mln
    ** Co says its President Dustin Sjuts to step down from the
role, effective Mar. 31
    ** RVNC expects to have positive operating income in 2025
    ** 10 of 12 brokerages rate the stock "buy" or higher, 2
"hold"; their median PT is $25
    ** Stock had fallen 52% in 2023

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; https://twitter.com/LeroyLeo7;))