Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $235.00 at Needham & Company LLC

Revolution Medicines (NASDAQ:RVMD) had its price objective upped by investment analysts at Needham & Company LLC from $183.00 to $235.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 29.06% from the stock’s current price.

Several other equities analysts have also recently weighed in on RVMD. Piper Sandler raised their price objective on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. HC Wainwright raised their price target on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Oppenheimer boosted their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $132.78.

Revolution Medicines Stock Performance

Shares of RVMD opened at $182.08 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a 50 day moving average price of $151.78 and a two-hundred day moving average price of $116.94. The firm has a market capitalization of $38.71 billion, a P/E ratio of -25.75 and a beta of 1.40. Revolution Medicines has a 52 week low of $34.00 and a 52 week high of $184.39.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the company posted ($1.13) earnings per share. Equities analysts forecast that Revolution Medicines will post -7.94 earnings per share for the current fiscal year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,020 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $1,564,322.40. Following the completion of the sale, the insider directly owned 267,330 shares of the company’s stock, valued at $41,735,559.60. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 29,600 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the sale, the chief operating officer owned 154,647 shares in the company, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 246,917 shares of company stock worth $38,432,302. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Advisory Services Inc. raised its stake in Revolution Medicines by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after acquiring an additional 120 shares during the period. PNC Financial Services Group Inc. boosted its position in Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after purchasing an additional 125 shares during the period. Deutsche Bank AG increased its stake in shares of Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC increased its stake in shares of Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after purchasing an additional 163 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares during the period. Institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.