Revolution Medicines (NASDAQ:RVMD) Stock Price Expected to Rise, HC Wainwright Analyst Says

Revolution Medicines (NASDAQ:RVMD) had its price objective raised by HC Wainwright from $64.00 to $72.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Revolution Medicines’ Q4 2024 earnings at ($0.94) EPS, FY2024 earnings at ($3.40) EPS, Q1 2025 earnings at ($0.92) EPS, Q2 2025 earnings at ($0.94) EPS, Q3 2025 earnings at ($0.96) EPS, Q4 2025 earnings at ($0.97) EPS and FY2025 earnings at ($3.79) EPS.

Other analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $68.00 target price on shares of Revolution Medicines in a research report on Tuesday. Barclays lifted their target price on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Guggenheim increased their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Piper Sandler increased their target price on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $63.67.

Revolution Medicines Price Performance

RVMD stock opened at $48.07 on Wednesday. Revolution Medicines has a 1-year low of $23.51 and a 1-year high of $62.40. The business has a 50-day moving average price of $52.29 and a 200 day moving average price of $45.53. The company has a market capitalization of $8.09 billion, a P/E ratio of -13.39 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly 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 quarter last year, the company posted ($0.99) EPS. On average, analysts anticipate that Revolution Medicines will post -3.51 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Barbara Weber sold 5,200 shares of Revolution Medicines stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the sale, the director now owns 13,065 shares of the company’s stock, valued at $627,381.30. The trade was a 28.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Margaret A. Horn sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 132,320 shares in the company, valued at approximately $6,660,988.80. This trade represents a 27.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock valued at $6,355,624 over the last ninety days. 8.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its position in Revolution Medicines by 17.5% during the 2nd quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock worth $416,000 after purchasing an additional 1,601 shares during the period. Clear Harbor Asset Management LLC raised its position in Revolution Medicines by 10.2% during the second quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock valued at $436,000 after acquiring an additional 1,036 shares in the last quarter. Raymond James & Associates boosted its position in Revolution Medicines by 196.4% in the 2nd quarter. Raymond James & Associates now owns 74,370 shares of the company’s stock worth $2,886,000 after purchasing an additional 49,275 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Revolution Medicines by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after purchasing an additional 320 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Revolution Medicines by 21.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 645,253 shares of the company’s stock valued at $25,042,000 after purchasing an additional 115,844 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.