Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $54.00 at Barclays

Revolution Medicines (NASDAQ:RVMD) had its target price hoisted by Barclays from $52.00 to $54.00 in a research report report published on Thursday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts also recently commented on RVMD. Needham & Company LLC boosted their price target on shares of Revolution Medicines from $46.00 to $62.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. HC Wainwright upped their price target on Revolution Medicines from $44.00 to $56.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Wedbush lifted their price objective on Revolution Medicines from $42.00 to $46.00 and gave the company an outperform rating in a research note on Thursday, May 9th. Oppenheimer boosted their price objective on Revolution Medicines from $45.00 to $55.00 and gave the stock an outperform rating in a research report on Tuesday, July 16th. Finally, Bank of America raised their target price on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a buy rating in a report on Tuesday, July 16th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $50.67.

Revolution Medicines Stock Up 0.2 %

Shares of NASDAQ RVMD opened at $46.14 on Thursday. Revolution Medicines has a twelve month low of $15.44 and a twelve month high of $48.61. The stock has a fifty day simple moving average of $39.82 and a 200-day simple moving average of $34.55.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. During the same quarter in the previous year, the business earned ($0.72) EPS. Revolution Medicines’s quarterly revenue was down 100.0% compared to the same quarter last year. As a group, analysts anticipate that Revolution Medicines will post -3.21 earnings per share for the current year.

Insider Buying and Selling

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $40.03, for a total value of $400,300.00. Following the completion of the transaction, the chief financial officer now owns 101,959 shares in the company, valued at $4,081,418.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the business’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 value of $400,300.00. Following the completion of the sale, the chief financial officer now owns 101,959 shares in the company, valued at $4,081,418.77. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Jeff Cislini sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the transaction, the general counsel now owns 49,487 shares in the company, valued at $1,903,764.89. The disclosure for this sale can be found here. Insiders have sold 58,421 shares of company stock worth $2,578,577 in the last ninety days. 8.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC increased its position 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 acquiring an additional 885 shares during the period. Manchester Capital Management LLC purchased a new stake in shares of Revolution Medicines during the fourth quarter worth approximately $80,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Revolution Medicines during the first quarter worth $104,000. EntryPoint Capital LLC purchased a new position in Revolution Medicines in the 1st quarter valued at $107,000. Finally, Nisa Investment Advisors LLC increased its stake in Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 320 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

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.