Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $226.17 Consensus Price Target from Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eighteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $228.2105.

A number of research firms have recently weighed in on RVMD. Truist Financial boosted their price target on Revolution Medicines from $231.00 to $239.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Friday, July 17th. Sanford C. Bernstein boosted their target price on shares of Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a research note on Friday, August 21st. TD Cowen upgraded shares of Revolution Medicines to a “strong-buy” rating in a report on Monday, August 24th. Finally, Oppenheimer raised their price target on shares of Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th.

Revolution Medicines Trading Up 0.9%

Shares of RVMD opened at $192.76 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The firm has a 50 day simple moving average of $199.74 and a 200-day simple moving average of $160.62. Revolution Medicines has a 1-year low of $42.18 and a 1-year high of $224.31. The stock has a market cap of $41.32 billion, a price-to-earnings ratio of -21.85 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the previous year, the business posted ($1.31) earnings per share. Equities analysts forecast that Revolution Medicines will post -8.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lorence Kim sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $203.24, for a total transaction of $11,381,440.00. Following the transaction, the director owned 17,090 shares of the company’s stock, valued at approximately $3,473,371.60. This represents a 76.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Goldsmith sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the sale, the insider owned 267,330 shares in the company, valued at approximately $55,925,436. This trade represents a 23.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 300,119 shares of company stock valued at $60,605,043. 7.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds have recently made changes to their positions in the business. Contravisory Investment Management Inc. acquired a new position in Revolution Medicines in the second quarter valued at $32,000. Johnson Financial Group Inc. acquired a new stake in Revolution Medicines in the 2nd quarter worth about $37,000. Silvant Capital Management LLC acquired a new stake in Revolution Medicines in the 2nd quarter worth about $41,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Revolution Medicines in the 2nd quarter valued at about $41,000. Finally, Allworth Financial LP grew its holdings in Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.