Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Average Recommendation of “Buy” from Analysts

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

A number of research firms have recently issued reports on RVMD. Piper Sandler increased their target price on 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 reissued a “buy” rating and issued a $68.00 price objective on shares of Revolution Medicines in a research note on Tuesday, December 3rd. HC Wainwright lifted their target price on Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Guggenheim increased their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, UBS Group boosted their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th.

Insider Transactions at Revolution Medicines

In related news, CFO Jack Anders sold 2,635 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $119,629.00. Following the completion of the transaction, the chief financial officer now owns 96,470 shares of the company’s stock, valued at approximately $4,379,738. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thilo Schroeder bought 1,304,347 shares of the stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $46.00 per share, for a total transaction of $59,999,962.00. Following the acquisition, the director now directly owns 2,096,612 shares in the company, valued at approximately $96,444,152. The trade was a 164.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 18,678 shares of company stock worth $847,981. 8.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RVMD. Lord Abbett & CO. LLC acquired a new position in shares of Revolution Medicines in the 3rd quarter valued at $83,082,000. Janus Henderson Group PLC raised its position in Revolution Medicines by 32.3% in the third quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock worth $278,280,000 after purchasing an additional 1,497,026 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Revolution Medicines by 58.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after purchasing an additional 653,433 shares during the period. Fred Alger Management LLC boosted its holdings in Revolution Medicines by 2,384.3% during the third quarter. Fred Alger Management LLC now owns 540,673 shares of the company’s stock valued at $24,520,000 after purchasing an additional 518,909 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Revolution Medicines by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company’s stock valued at $164,517,000 after purchasing an additional 291,369 shares during the period. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Down 0.3 %

Shares of NASDAQ RVMD opened at $42.95 on Monday. Revolution Medicines has a 12 month low of $27.40 and a 12 month high of $62.40. The company has a market cap of $7.23 billion, a price-to-earnings ratio of -11.96 and a beta of 1.46. The business has a fifty day simple moving average of $45.20 and a 200-day simple moving average of $46.64.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter last year, the business posted ($0.99) EPS. As a group, sell-side analysts expect that Revolution Medicines will post -3.49 EPS for the current fiscal year.

About Revolution Medicines

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.