Revolution Medicines (NASDAQ:RVMD) Now Covered by Analysts at Barclays

Barclays began coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a research report sent to investors on Friday, Marketbeat.com reports. The firm issued an overweight rating and a $52.00 price target on the stock.

Several other analysts also recently commented on the stock. HC Wainwright reaffirmed a buy rating and issued a $44.00 price objective on shares of Revolution Medicines in a report on Monday, May 13th. Needham & Company LLC reaffirmed a buy rating and set a $46.00 target price on shares of Revolution Medicines in a report on Thursday, May 9th. Oppenheimer boosted their target price on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an outperform rating in a research note on Friday, April 12th. Raymond James upgraded shares of Revolution Medicines from an outperform rating to a strong-buy rating and raised their price target for the company from $36.00 to $48.00 in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research report on Monday, July 8th. They issued a buy rating and a $63.00 price objective for the company. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $45.58.

Revolution Medicines Trading Up 1.9 %

RVMD opened at $46.00 on Friday. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of -12.27 and a beta of 1.44. Revolution Medicines has a 12 month low of $15.44 and a 12 month high of $48.61. The stock has a fifty day moving average price of $39.15 and a 200-day moving average price of $34.04.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.05. Revolution Medicines’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same period last year, the company posted ($0.72) earnings per share. On average, equities research analysts forecast that Revolution Medicines will post -3.12 EPS for the current year.

Insider Buying and Selling

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the completion of the transaction, the chief financial officer now owns 101,959 shares of the company’s stock, valued at $4,081,418.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Jeff Cislini sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total transaction of $76,940.00. Following the completion of the sale, the general counsel now owns 49,487 shares of the company’s stock, valued at approximately $1,903,764.89. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the completion of the transaction, the chief financial officer now directly owns 101,959 shares in the company, valued at $4,081,418.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,754 shares of company stock worth $677,811. Insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC grew its holdings in Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after buying an additional 885 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Revolution Medicines by 17.5% during the 2nd quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock valued at $416,000 after acquiring an additional 1,601 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Revolution Medicines by 10.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,375 shares of the company’s stock valued at $670,000 after purchasing an additional 2,238 shares during the period. ProShare Advisors LLC increased its position in Revolution Medicines by 6.8% during the first quarter. ProShare Advisors LLC now owns 36,605 shares of the company’s stock worth $1,180,000 after purchasing an additional 2,331 shares during the last quarter. Finally, Manchester Capital Management LLC purchased a new position in Revolution Medicines during the fourth quarter worth about $80,000. Institutional investors and hedge funds 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.