Analysts Set Revolution Medicines, Inc. (NASDAQ:RVMD) Price Target at $78.94

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned a consensus rating of “Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, sixteen have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $78.9412.

RVMD has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating for the company. Truist Financial raised Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, March 25th. HC Wainwright reaffirmed a “buy” rating on shares of Revolution Medicines in a research note on Wednesday. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Finally, UBS Group initiated coverage on Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating for the company.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $135.30 on Wednesday. The company has a market cap of $26.81 billion, a price-to-earnings ratio of -22.89 and a beta of 1.01. The stock has a 50 day simple moving average of $107.56 and a 200-day simple moving average of $89.21. Revolution Medicines has a 12-month low of $34.00 and a 12-month high of $155.70. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period last year, the firm earned ($1.12) earnings per share. On average, equities analysts forecast that Revolution Medicines will post -7.54 EPS for the current year.

Insider Transactions at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the transaction, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. This trade represents a 30.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jack Anders sold 2,753 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $273,868.44. Following the completion of the transaction, the chief financial officer directly owned 125,512 shares of the company’s stock, valued at $12,485,933.76. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 184,592 shares of company stock worth $24,499,532 over the last ninety days. 8.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds have recently bought and sold shares of RVMD. Mirae Asset Global Investments Co. Ltd. grew its holdings in Revolution Medicines by 194.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after buying an additional 14,062 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Revolution Medicines by 39.3% during the 3rd quarter. New York State Common Retirement Fund now owns 119,807 shares of the company’s stock valued at $5,595,000 after buying an additional 33,821 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in Revolution Medicines during the 3rd quarter valued at $921,000. Mass General Brigham Inc acquired a new stake in Revolution Medicines during the 4th quarter valued at $27,407,000. Finally, NEOS Investment Management LLC grew its holdings in Revolution Medicines by 34.7% during the 3rd quarter. NEOS Investment Management LLC now owns 126,921 shares of the company’s stock valued at $5,927,000 after buying an additional 32,694 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.