Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $78.94 Average Price Target from Analysts

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have received a consensus rating of “Buy” from the twenty-one ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, fifteen have assigned a buy rating and five have given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $78.9412.

RVMD has been the topic of several recent analyst reports. Benchmark restated an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Thursday, January 22nd. Evercore raised Revolution Medicines to a “strong-buy” rating in a report on Wednesday, February 25th. Finally, UBS Group started coverage on Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating on the stock.

Insider Buying and Selling at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 12,871 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $1,280,407.08. Following the transaction, the insider owned 276,698 shares of the company’s stock, valued at approximately $27,525,917.04. This represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jack Anders sold 2,753 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $273,868.44. Following the sale, the chief financial officer directly owned 125,512 shares of the company’s stock, valued at approximately $12,485,933.76. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 149,592 shares of company stock worth $15,010,732 in the last ninety days. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of RVMD. Vanguard Group Inc. grew its stake in shares of Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Farallon Capital Management LLC raised its stake in Revolution Medicines by 2.1% in the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock worth $683,020,000 after purchasing an additional 300,000 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after purchasing an additional 947,448 shares during the period. Baker BROS. Advisors LP boosted its holdings in Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after purchasing an additional 90,385 shares during the period. Finally, Nextech Invest Ltd. grew its position in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Trading Up 0.2%

Shares of Revolution Medicines stock opened at $92.71 on Friday. The stock has a market cap of $18.37 billion, a P/E ratio of -15.69 and a beta of 0.99. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. Revolution Medicines has a 12-month low of $29.17 and a 12-month high of $124.49. The business’s 50 day moving average is $99.82 and its 200-day moving average is $79.56.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same quarter last year, the company earned ($1.12) EPS. Equities research analysts predict that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Revolution Medicines Company Profile

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.