Revolution Medicines’ (RVMD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Revolution Medicines (NASDAQ:RVMD) in a report released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $59.00 target price on the stock.

Several other equities research analysts have also recently issued reports on RVMD. HC Wainwright raised their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Wedbush reissued an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, February 27th. Stifel Nicolaus reduced their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Finally, UBS Group increased their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $65.23.

Revolution Medicines Stock Down 0.9 %

Shares of RVMD opened at $31.13 on Tuesday. Revolution Medicines has a 52-week low of $29.17 and a 52-week high of $62.40. The stock has a fifty day simple moving average of $39.03 and a two-hundred day simple moving average of $44.96. The company has a market capitalization of $5.79 billion, a PE ratio of -8.67 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). As a group, equities analysts anticipate that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the sale, the chief operating officer now owns 153,533 shares of the company’s stock, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the transaction, the chief financial officer now owns 115,006 shares of the company’s stock, valued at $4,489,834.24. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock valued at $650,406 in the last 90 days. Company insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc acquired a new stake in Revolution Medicines in the fourth quarter valued at $34,000. Sterling Capital Management LLC raised its position in shares of Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after acquiring an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after purchasing an additional 1,613 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Revolution Medicines in the fourth quarter valued at approximately $104,000. Finally, GF Fund Management CO. LTD. purchased a new position in Revolution Medicines in the fourth quarter valued at approximately $154,000. 94.34% of the stock is currently 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.