Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $260.00

Revolution Medicines (NASDAQ:RVMD) had its price objective boosted by Royal Bank Of Canada from $259.00 to $260.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

RVMD has been the topic of several other research reports. Oppenheimer boosted their target price on shares of Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Evercore reaffirmed an “outperform” rating and set a $320.00 price target on shares of Revolution Medicines in a research report on Thursday, August 27th. TD Cowen reiterated a “buy” rating on shares of Revolution Medicines in a report on Thursday, October 8th. Needham & Company LLC lifted their price objective on Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Finally, Mizuho lifted their price objective on Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.55.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $177.96 on Wednesday. Revolution Medicines has a 52-week low of $52.40 and a 52-week high of $224.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The company’s 50 day moving average price is $203.22 and its 200-day moving average price is $173.42.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the company earned ($1.31) EPS. Research analysts forecast that Revolution Medicines will post -8.93 EPS for the current year.

Insider Activity

In other news, insider Stephen Kelsey sold 92,531 shares of Revolution Medicines stock in a transaction on Friday, September 11th. The shares were sold at an average price of $202.36, for a total value of $18,724,573.16. Following the completion of the sale, the insider owned 291,876 shares in the company, valued at $59,064,027.36. The trade was a 24.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alan B. Sandler sold 6,309 shares of the business’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $202.14, for a total transaction of $1,275,301.26. Following the transaction, the insider owned 52,559 shares in the company, valued at $10,624,276.26. The trade was a 10.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 290,991 shares of company stock worth $59,422,765. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

A number of large investors have recently bought and sold shares of RVMD. Vontobel Holding Ltd. bought a new stake in Revolution Medicines in the third quarter valued at $810,000. TD Waterhouse Canada Inc. boosted its position in shares of Revolution Medicines by 37.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 370 shares of the company’s stock worth $76,000 after purchasing an additional 100 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Revolution Medicines by 987.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company’s stock valued at $447,710,000 after buying an additional 1,980,699 shares during the period. Curated Wealth Partners LLC acquired a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $273,000. Finally, Mather Group LLC. acquired a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $41,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted therapies for patients with cancer. The company’s research centers on the RAS signaling pathway, a key driver of tumor growth that is altered in many cancers, including those involving KRAS mutations.

Its pipeline includes RAS(ON) inhibitors designed to target active RAS proteins and address a range of RAS-driven tumors. Key development programs include daraxonrasib (RMC-6236), a broad-spectrum RAS inhibitor, and zoldonrasib (RMC-9805), an investigational inhibitor aimed at KRAS G12D-mutated cancers.