What is HC Wainwright’s Estimate for RVMD Q3 Earnings?

Revolution Medicines, Inc. (NASDAQ:RVMD) – Equities research analysts at HC Wainwright lowered their Q3 2024 earnings estimates for Revolution Medicines in a research report issued to clients and investors on Monday, November 4th. HC Wainwright analyst R. Burns now expects that the company will earn ($0.89) per share for the quarter, down from their prior forecast of ($0.84). HC Wainwright has a “Buy” rating and a $56.00 price objective on the stock. The consensus estimate for Revolution Medicines’ current full-year earnings is ($3.35) per share. HC Wainwright also issued estimates for Revolution Medicines’ Q4 2024 earnings at ($0.98) EPS, FY2024 earnings at ($3.38) EPS, Q1 2025 earnings at ($1.00) EPS, Q2 2025 earnings at ($1.02) EPS, Q3 2025 earnings at ($1.03) EPS, Q4 2025 earnings at ($1.05) EPS and FY2025 earnings at ($4.09) EPS.

A number of other analysts have also recently issued reports on RVMD. Barclays boosted their price objective on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Wedbush restated an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Oppenheimer increased their target price on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, Guggenheim lifted their target price on shares of Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Revolution Medicines has an average rating of “Buy” and an average price target of $56.75.

Revolution Medicines Stock Performance

Shares of RVMD opened at $59.42 on Thursday. The company has a 50-day simple moving average of $46.86 and a 200-day simple moving average of $42.89. Revolution Medicines has a 52 week low of $18.79 and a 52 week high of $60.53. The firm has a market capitalization of $9.93 billion, a P/E ratio of -16.32 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.81 million. During the same period in the previous year, the business posted ($0.92) EPS. The firm’s revenue was down 73.8% on a year-over-year basis.

Institutional Investors Weigh In On Revolution Medicines

Several large investors have recently made changes to their positions in RVMD. CIBC Asset Management Inc bought a new stake in Revolution Medicines during the third quarter worth $216,000. KBC Group NV raised its stake in Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after buying an additional 368 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Revolution Medicines by 65.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 32,127 shares of the company’s stock worth $1,457,000 after purchasing an additional 12,744 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Revolution Medicines by 22.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,041 shares of the company’s stock worth $267,000 after buying an additional 1,115 shares during the period. Finally, Values First Advisors Inc. acquired a new position in Revolution Medicines in the 3rd quarter valued at about $93,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the completion of the sale, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $15,116,561.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.30, for a total value of $503,000.00. Following the sale, the chief financial officer now owns 98,932 shares of the company’s stock, valued at approximately $4,976,279.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark A. Goldsmith sold 30,000 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the completion of the transaction, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $15,116,561.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,866 shares of company stock worth $6,355,624. Corporate insiders own 8.00% of the company’s stock.

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.