Revolution Medicines (NASDAQ:RVMD) Rating Increased to Strong-Buy at Wolfe Research

Wolfe Research upgraded shares of Revolution Medicines (NASDAQ:RVMD) to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

Several other research firms also recently commented on RVMD. The Goldman Sachs Group upped their target price on Revolution Medicines from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, September 12th. National Bankshares set a $80.00 price target on Revolution Medicines in a research note on Friday, October 17th. Royal Bank Of Canada initiated coverage on Revolution Medicines in a report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Finally, Wedbush raised their price target on shares of Revolution Medicines from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $78.50.

Revolution Medicines Price Performance

Shares of RVMD opened at $70.53 on Monday. The company’s 50-day moving average is $52.94 and its 200-day moving average is $43.53. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. The firm has a market capitalization of $13.63 billion, a PE ratio of -13.64 and a beta of 1.25. Revolution Medicines has a fifty-two week low of $29.17 and a fifty-two week high of $71.62.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same period last year, the company earned ($0.94) EPS. Equities analysts forecast that Revolution Medicines will post -3.49 EPS for the current year.

Insider Activity at Revolution Medicines

In other news, COO Margaret A. Horn sold 4,775 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $218,790.50. Following the completion of the transaction, the chief operating officer directly owned 145,900 shares in the company, valued at approximately $6,685,138. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jack Anders sold 5,238 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total value of $210,410.46. Following the sale, the chief financial officer owned 113,314 shares in the company, valued at $4,551,823.38. This represents a 4.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 238,033 shares of company stock valued at $11,566,908 in the last quarter. 8.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RVMD. General Atlantic L.P. bought a new position in shares of Revolution Medicines during the third quarter valued at $115,556,000. Norges Bank acquired a new stake in Revolution Medicines in the second quarter valued at $62,584,000. T. Rowe Price Investment Management Inc. bought a new position in Revolution Medicines during the 1st quarter worth $59,173,000. Nextech Invest Ltd. raised its position in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new position in Revolution Medicines during the 2nd quarter worth about $44,148,000. Institutional investors own 94.34% 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.