Brokerages Set Revolution Medicines, Inc. (NASDAQ:RVMD) Target Price at $65.82

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Eleven investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $66.25.

Several research firms have recently weighed in on RVMD. Barclays lifted their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Piper Sandler upped their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Oppenheimer upped their price target on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. raised their price objective on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd.

Insider Buying and Selling at Revolution Medicines

In related news, COO Margaret A. Horn sold 50,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the completion of the sale, the chief operating officer now directly owns 132,320 shares of the company’s stock, valued at approximately $6,660,988.80. This trade represents a 27.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.30, for a total value of $503,000.00. Following the completion of the transaction, the chief financial officer now directly owns 98,932 shares in the company, valued at approximately $4,976,279.60. This represents a 9.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,344 shares of company stock worth $6,504,602. Corporate insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in Revolution Medicines by 21.9% during the second quarter. Bank of New York Mellon Corp now owns 645,253 shares of the company’s stock valued at $25,042,000 after buying an additional 115,844 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Revolution Medicines by 48.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,562 shares of the company’s stock valued at $953,000 after acquiring an additional 7,994 shares during the last quarter. Rhumbline Advisers grew its position in shares of Revolution Medicines by 9.2% during the 2nd quarter. Rhumbline Advisers now owns 228,567 shares of the company’s stock valued at $8,871,000 after acquiring an additional 19,257 shares during the period. Arizona State Retirement System increased its stake in shares of Revolution Medicines by 15.6% during the 2nd quarter. Arizona State Retirement System now owns 32,273 shares of the company’s stock worth $1,253,000 after purchasing an additional 4,349 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Revolution Medicines in the 2nd quarter worth approximately $20,154,000. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Trading Up 0.2 %

Shares of Revolution Medicines stock opened at $44.42 on Thursday. The business has a 50-day moving average price of $50.63 and a two-hundred day moving average price of $46.55. Revolution Medicines has a 1-year low of $25.93 and a 1-year high of $62.40. The company has a market cap of $7.47 billion, a P/E ratio of -12.37 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period last year, the business earned ($0.99) earnings per share. Equities research analysts forecast that Revolution Medicines will post -3.5 EPS for the current fiscal year.

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.