Revolution Medicines (NASDAQ:RVMD) Receives Buy Rating from HC Wainwright

Revolution Medicines (NASDAQ:RVMD)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $195.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 2.27% from the company’s current price.

RVMD has been the topic of a number of other reports. Royal Bank Of Canada raised their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating for the company. Wedbush raised their price target on Revolution Medicines from $165.00 to $181.00 and gave the company an “outperform” rating in a research report on Thursday. Sanford C. Bernstein began coverage on Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective on the stock. Finally, Oppenheimer boosted their price objective on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.33.

Revolution Medicines Stock Up 0.8%

Shares of RVMD stock opened at $190.68 on Monday. The stock’s 50 day simple moving average is $156.00 and its 200 day simple moving average is $120.84. Revolution Medicines has a twelve month low of $34.00 and a twelve month high of $193.10. 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 company has a market capitalization of $40.54 billion, a price-to-earnings ratio of -26.89 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the prior year, the business posted ($1.13) earnings per share. As a group, research analysts predict that Revolution Medicines will post -7.94 EPS for the current year.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 10,020 shares of the stock in a transaction dated Tuesday, June 16th. The shares were 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 owned 267,330 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total value of $3,366,600.00. Following the sale, the chief financial officer directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. This trade represents a 13.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 252,497 shares of company stock worth $39,481,286. 7.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolution Medicines

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Revolution Medicines by 194.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after buying an additional 14,062 shares during the period. Mass General Brigham Inc acquired a new position in shares of Revolution Medicines in the 4th quarter valued at $27,407,000. Eagle Health Investments LP acquired a new position in shares of Revolution Medicines in the 4th quarter valued at $9,231,000. Finally, M&T Bank Corp bought a new position in shares of Revolution Medicines during the 4th quarter worth about $52,723,000. 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.