Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Average Recommendation of “Buy” from Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned a consensus recommendation of “Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $54.00.

Several research analysts have issued reports on the company. Jefferies Financial Group started coverage on Revolution Medicines in a research report on Monday, July 8th. They set a “buy” rating and a $63.00 target price for the company. Oppenheimer lifted their target price on Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Barclays upped their target price on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. HC Wainwright restated a “buy” rating and issued a $56.00 target price on shares of Revolution Medicines in a research note on Monday, August 12th. Finally, Bank of America boosted their target price on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $48.51 on Friday. Revolution Medicines has a 1-year low of $18.00 and a 1-year high of $51.00. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of -13.33 and a beta of 1.43. The business’s fifty day moving average price is $45.12 and its 200-day moving average price is $41.71.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.81 million. The firm’s quarterly revenue was down 73.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.92) EPS. Equities research analysts anticipate that Revolution Medicines will post -3.35 EPS for the current year.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 50,000 shares of Revolution Medicines stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the completion of the sale, the chief operating officer now directly owns 132,320 shares in the company, valued at $6,660,988.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Revolution Medicines news, COO Margaret A. Horn sold 50,000 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the completion of the sale, the chief operating officer now directly owns 132,320 shares in the company, valued at $6,660,988.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 10,000 shares of Revolution Medicines stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $45.88, for a total transaction of $458,800.00. Following the transaction, the insider now owns 311,885 shares in the company, valued at $14,309,283.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,866 shares of company stock worth $6,814,424 in the last three months. Corporate insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. American International Group Inc. boosted its holdings in shares of Revolution Medicines by 41.3% during the fourth quarter. American International Group Inc. now owns 71,494 shares of the company’s stock valued at $2,050,000 after acquiring an additional 20,881 shares during the period. Goldman Sachs Group Inc. grew its position in Revolution Medicines by 67.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,053,257 shares of the company’s stock worth $30,207,000 after purchasing an additional 425,812 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Revolution Medicines by 51.8% in the fourth quarter. Vanguard Group Inc. now owns 14,634,391 shares of the company’s stock valued at $419,714,000 after purchasing an additional 4,990,800 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Revolution Medicines in the first quarter valued at approximately $104,000. Finally, Duality Advisers LP bought a new stake in shares of Revolution Medicines during the first quarter valued at approximately $826,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Company Profile

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.