Revolution Medicines (NASDAQ:RVMD) Hits New 12-Month High – Should You Buy?

Revolution Medicines, Inc. (NASDAQ:RVMD) shares hit a new 52-week high on Monday . The company traded as high as $81.62 and last traded at $81.04, with a volume of 738547 shares. The stock had previously closed at $78.78.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RVMD. Wedbush upped their price objective on shares of Revolution Medicines from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Royal Bank Of Canada assumed coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price target for the company. Raymond James Financial raised their price objective on shares of Revolution Medicines from $72.00 to $76.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 17th. 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 note on Thursday, September 11th. Finally, Wolfe Research assumed coverage on Revolution Medicines in a report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 target price for the company. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $78.50.

Revolution Medicines Stock Up 1.9%

The business’s 50 day simple moving average is $66.73 and its 200-day simple moving average is $49.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05. The company has a market cap of $15.53 billion, a price-to-earnings ratio of -15.53 and a beta of 0.96.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same period last year, the business earned ($0.94) EPS. Sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $48.54, for a total transaction of $1,213,500.00. Following the completion of the sale, the insider directly owned 284,047 shares of the company’s stock, valued at $13,787,641.38. This trade represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $75.08, for a total value of $4,504,800.00. Following the completion of the sale, the insider directly owned 247,863 shares of the company’s stock, valued at approximately $18,609,554.04. The trade was a 19.49% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 183,792 shares of company stock valued at $12,449,240. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. S&CO Inc. lifted its position in shares of Revolution Medicines by 54.5% during the 2nd quarter. S&CO Inc. now owns 14,171 shares of the company’s stock worth $521,000 after purchasing an additional 5,000 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Revolution Medicines in the 2nd quarter worth approximately $3,639,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Revolution Medicines by 64.7% during the second quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock worth $2,146,000 after buying an additional 22,906 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Revolution Medicines by 7.6% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 71,311 shares of the company’s stock worth $2,624,000 after buying an additional 5,060 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new stake in shares of Revolution Medicines in the second quarter valued at approximately $1,678,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Company Profile

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.