Revolution Medicines’ (RVMD) “Buy” Rating Reiterated at TD Cowen

Revolution Medicines (NASDAQ:RVMD)‘s stock had its “buy” rating reissued by analysts at TD Cowen in a research note issued on Wednesday, Benzinga reports. They currently have a $250.00 price objective on the stock. TD Cowen’s price objective would suggest a potential upside of 25.05% from the stock’s previous close.

RVMD has been the topic of several other research reports. Brookline Capital Markets assumed coverage on shares of Revolution Medicines in a research note on Monday, September 28th. They set a “buy” rating and a $318.00 price target on the stock. Royal Bank Of Canada upped their price objective on shares of Revolution Medicines from $259.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, October 14th. Oppenheimer raised their target price on Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $248.00 target price on shares of Revolution Medicines in a research report on Thursday, August 27th. Finally, Wedbush boosted their price target on Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.95.

Revolution Medicines Trading Up 1.7%

Shares of RVMD stock traded up $3.36 during mid-day trading on Wednesday, hitting $199.91. 628,921 shares of the company’s stock were exchanged, compared to its average volume of 2,842,675. The stock has a 50-day simple moving average of $202.54 and a two-hundred day simple moving average of $175.28. Revolution Medicines has a fifty-two week low of $52.48 and a fifty-two week high of $224.31. The stock has a market cap of $42.85 billion, a price-to-earnings ratio of -22.72 and a beta of 1.40. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the business posted ($1.31) EPS. Equities analysts expect that Revolution Medicines will post -8.93 EPS for the current fiscal year.

Insider Activity

In related news, insider Alan B. Sandler sold 6,309 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $202.14, for a total transaction of $1,275,301.26. Following the transaction, the insider owned 52,559 shares in the company, valued at $10,624,276.26. This trade represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lorence H. Kim sold 56,000 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $203.24, for a total transaction of $11,381,440.00. Following the completion of the sale, the director owned 17,090 shares in the company, valued at approximately $3,473,371.60. This trade represents a 76.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 290,991 shares of company stock worth $59,422,765 over the last 90 days. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

A number of large investors have recently made changes to their positions in the company. Englebert Financial Advisers LLC acquired a new stake in Revolution Medicines during the 3rd quarter valued at $912,000. QP Wealth Management LLC purchased a new stake in shares of Revolution Medicines in the third quarter valued at $1,201,000. Pinnacle Associates Ltd. acquired a new stake in shares of Revolution Medicines in the third quarter worth $374,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Revolution Medicines by 439.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 22,319 shares of the company’s stock worth $4,581,000 after buying an additional 18,179 shares during the period. Finally, West Branch Capital LLC purchased a new position in shares of Revolution Medicines during the third quarter valued at $103,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company’s research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.