HC Wainwright Forecasts Strong Price Appreciation for Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines (NASDAQ:RVMD) had its target price lifted by stock analysts at HC Wainwright from $62.00 to $64.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 7.26% from the stock’s previous close. HC Wainwright also issued estimates for Revolution Medicines’ Q3 2024 earnings at ($0.89) EPS, Q4 2024 earnings at ($0.98) EPS, FY2024 earnings at ($3.38) EPS, Q1 2025 earnings at ($1.00) EPS, Q2 2025 earnings at ($1.02) EPS, Q3 2025 earnings at ($1.03) EPS, Q4 2025 earnings at ($1.05) EPS and FY2025 earnings at ($4.09) EPS.

Several other research analysts have also recently weighed in on RVMD. Piper Sandler boosted their price target on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC boosted their price target on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a report on Thursday. Barclays boosted their price target on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Wedbush reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 8th. Finally, Bank of America upped their price objective on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and an average target price of $61.00.

Revolution Medicines Stock Performance

Shares of RVMD stock traded up $0.25 during mid-day trading on Thursday, hitting $59.67. The company’s stock had a trading volume of 958,008 shares, compared to its average volume of 1,330,836. Revolution Medicines has a 52-week low of $18.79 and a 52-week high of $60.53. The business has a 50-day moving average price of $46.86 and a 200 day moving average price of $42.89. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of -16.37 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period in the previous year, the firm posted ($0.99) earnings per share. Equities research analysts predict that Revolution Medicines will post -3.35 EPS for the current fiscal year.

Insider Activity

In related news, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.36, for a total value of $1,510,800.00. Following the transaction, the insider now owns 300,170 shares of the company’s stock, valued at $15,116,561.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Revolution Medicines news, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the sale, the insider now owns 300,170 shares of the company’s stock, valued at approximately $15,116,561.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total value of $824,800.34. Following the sale, the insider now directly owns 264,408 shares in the company, valued at $13,085,551.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by insiders.

Institutional Trading of Revolution Medicines

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after purchasing an additional 885 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Revolution Medicines during the 3rd quarter valued at $93,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Revolution Medicines during the 1st quarter valued at $104,000. Finally, KBC Group NV lifted its holdings in shares of Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.