Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $68.00 at Needham & Company LLC

Revolution Medicines (NASDAQ:RVMD) had its target price upped by Needham & Company LLC from $61.00 to $68.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on RVMD. JPMorgan Chase & Co. upped their price target on shares of Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler boosted their price objective on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America raised their price objective on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Oppenheimer boosted their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Finally, Guggenheim increased their price target on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, October 28th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $61.00.

Revolution Medicines Stock Up 2.7 %

NASDAQ RVMD traded up $1.58 during trading hours on Thursday, reaching $60.68. The company’s stock had a trading volume of 949,564 shares, compared to its average volume of 1,333,792. Revolution Medicines has a 1 year low of $18.79 and a 1 year high of $61.00. The firm’s 50-day moving average price is $46.86 and its 200-day moving average price is $42.89.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period in the previous year, the firm earned ($0.99) EPS. Research analysts predict that Revolution Medicines will post -3.37 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the sale, the insider now directly owns 300,170 shares in the company, valued at $13,486,638.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the sale, the director now directly owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This represents a 0.00 % 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, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total value of $449,300.00. Following the sale, the insider now directly owns 300,170 shares in the company, valued at approximately $13,486,638.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolution Medicines

A number of hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Revolution Medicines in the 1st quarter worth $104,000. Duality Advisers LP acquired a new stake in Revolution Medicines in the 1st quarter valued at about $826,000. SG Americas Securities LLC lifted its stake in Revolution Medicines by 153.9% in the 1st quarter. SG Americas Securities LLC now owns 9,129 shares of the company’s stock worth $294,000 after purchasing an additional 5,534 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Revolution Medicines during the 1st quarter worth approximately $6,656,000. Finally, Sei Investments Co. purchased a new stake in shares of Revolution Medicines in the first quarter valued at approximately $528,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

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.