Revance TherapeuticsNASDAQ: RVNC

Revance Therapeutics (RVNC) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

NASHVILLE, Tenn.--(BUSINESS WIRE)--Revance to Release Fourth Quarter and Full Year 2023 Financial Results on Wednesday February 28, 2024.

Revance Therapeutics, Inc. (NASDAQ:RVNC ) Q3 2023 Earnings Conference Call November 8, 2023 4:30 PM ET Company Participants Jessica Serra - Head, IR, Communications & ESG Mark Foley - CEO Dustin Sjuts - President Toby Schilke - CFO Conference Call Participants Seamus Fernandez - Guggenheim Partners Mikaela Franceschina - Barclays David Amsellem - Piper Sandler Stacy KU - TD Cowen Annabel Samimy - Stifel Uy Ear - Mizuho Serge Belanger - Needham and Company Douglas Tsao - H.C. Wainwright Terence Flynn - Morgan Stanley Navann Ty - BNP Paribas Operator Welcome to the Revance Therapeutics Third Quarter 2023 Financial Results and Corporate Update Conference Call.

Although the revenue and EPS for Revance Therapeutics, Inc. (RVNC) give a sense of how its business performed in the quarter ended September 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Revance Therapeutics, Inc. stock has fallen by half in the past six months, despite impressive sales growth, prompting speculation on whether it is now a good buy. The recent DAXXIFY launch seems to be proceeding well, but quarterly cash burn remains an issue as Revance challenges Botox in this space. Analysts have mixed opinions on the stock, with some reiterating buy ratings and others issuing neutral ratings.

Shares of Revance Therapeutics Inc. RVNC, -3.81% gained 8% premarket on Monday after the U.S. Food and Drug Administration approved the biotech company's Daxxify injection for treatment of cervical dystonia in adults. Cervical dystonia is a chronic disease that causes painful, involuntary neck muscle contractions and affects about 60,000 people in the U.S. Daxxify, a Botox competitor, previously received FDA approval late last year for the temporary improvement of frown lines.

The U.S. health regulator has approved expanding the use of Revance Therapeutics' Daxxify to treat a painful neck muscle condition, intensifying the anti-wrinkle injection's rivalry with AbbVie's Botox.

Revance Therapeutics, Inc. (RVNC) came out with a quarterly loss of $0.80 per share versus the Zacks Consensus Estimate of a loss of $0.72. This compares to loss of $0.88 per share a year ago.

Revance Therapeutics, Inc. (RVNC) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.