UBS Group Raises Revolution Medicines (NASDAQ:RVMD) Price Target to $71.00

Revolution Medicines (NASDAQ:RVMD) had its target price increased by equities researchers at UBS Group from $65.00 to $71.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 59.30% from the company’s current price.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. raised their price target on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Barclays boosted their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Needham & Company LLC restated a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Oppenheimer boosted their price target on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Wedbush restated an “outperform” rating and issued a $70.00 price objective on shares of Revolution Medicines in a research report on Monday, December 2nd. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $66.25.

Revolution Medicines Trading Up 0.5 %

Shares of Revolution Medicines stock traded up $0.24 on Wednesday, hitting $44.57. The stock had a trading volume of 90,399 shares, compared to its average volume of 740,526. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of -12.42 and a beta of 1.46. Revolution Medicines has a 52-week low of $25.93 and a 52-week high of $62.40. The company’s 50 day moving average price is $50.75 and its 200 day moving average price is $46.57.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter in the prior year, the firm posted ($0.99) earnings per share. Analysts predict that Revolution Medicines will post -3.5 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In other news, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.30, for a total value of $503,000.00. Following the completion of the transaction, the chief financial officer now owns 98,932 shares of the company’s stock, valued at $4,976,279.60. The trade was a 9.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Margaret A. Horn sold 4,329 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $196,536.60. Following the transaction, the chief operating officer now directly owns 127,991 shares in the company, valued at $5,810,791.40. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,344 shares of company stock valued at $6,504,602 in the last 90 days. 8.00% of the stock is currently owned by insiders.

Institutional Trading of Revolution Medicines

A number of hedge funds have recently added to or reduced their stakes in RVMD. GAMMA Investing LLC increased its position in Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after purchasing an additional 222 shares in the last quarter. Quarry LP acquired a new position in shares of Revolution Medicines during the 3rd quarter valued at $82,000. Values First Advisors Inc. acquired a new stake in Revolution Medicines in the 3rd quarter valued at $93,000. KBC Group NV raised its position 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 purchasing an additional 368 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $203,000. 94.34% of the stock is 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.