Revolution Medicines (NASDAQ:RVMD) PT Raised to $55.00

Revolution Medicines (NASDAQ:RVMD) had its price objective hoisted by Oppenheimer from $45.00 to $55.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 18.48% from the company’s current price.

Other research analysts have also issued research reports about the company. Wedbush lifted their target price on Revolution Medicines from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Barclays initiated coverage on shares of Revolution Medicines in a research note on Friday, July 12th. They set an “overweight” rating and a $52.00 target price for the company. Raymond James raised shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $36.00 to $48.00 in a report on Wednesday, April 10th. Jefferies Financial Group started coverage on shares of Revolution Medicines in a report on Monday, July 8th. They issued a “buy” rating and a $63.00 price target for the company. Finally, HC Wainwright increased their price objective on shares of Revolution Medicines from $44.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday. Eleven investment 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, the stock has an average rating of “Buy” and a consensus target price of $50.50.

Revolution Medicines Price Performance

RVMD opened at $46.42 on Tuesday. Revolution Medicines has a 12-month low of $15.44 and a 12-month high of $48.61. The stock has a market capitalization of $7.66 billion, a PE ratio of -12.38 and a beta of 1.44. The firm’s fifty day moving average price is $39.47 and its 200 day moving average price is $34.26.

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

Insider Activity

In related news, Director Sushil Patel sold 2,155 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $44.00, for a total value of $94,820.00. Following the sale, the director now directly owns 19,948 shares in the company, valued at approximately $877,712. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $44.00, for a total value of $94,820.00. Following the completion of the sale, the director now owns 19,948 shares of the company’s stock, valued at $877,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark A. Goldsmith sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $45.05, for a total transaction of $1,126,250.00. Following the transaction, the insider now directly owns 311,885 shares in the company, valued at approximately $14,050,419.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,421 shares of company stock valued at $2,578,577. Insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors have recently added to or reduced their stakes in the company. Bellevue Group AG raised its stake in shares of Revolution Medicines by 7.8% in the 4th quarter. Bellevue Group AG now owns 5,091,000 shares of the company’s stock worth $146,010,000 after buying an additional 369,500 shares in the last quarter. Vanguard Group Inc. boosted its stake in Revolution Medicines by 3.2% during the third quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock valued at $266,935,000 after buying an additional 303,088 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Revolution Medicines during the first quarter worth about $6,656,000. Mass General Brigham Inc acquired a new stake in Revolution Medicines in the 1st quarter valued at about $10,900,000. Finally, Finepoint Capital LP boosted its position in shares of Revolution Medicines by 44.5% during the 4th quarter. Finepoint Capital LP now owns 617,100 shares of the company’s stock valued at $17,698,000 after purchasing an additional 190,100 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.