Brokerages Set Revolution Medicines, Inc. (NASDAQ:RVMD) PT at $144.67

Revolution Medicines, Inc. (NASDAQ:RVMD) has been given an average rating of “Moderate Buy” by the twenty-two ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $144.6722.

A number of research analysts have issued reports on RVMD shares. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Needham & Company LLC raised their price objective on shares of Revolution Medicines from $235.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Truist Financial raised their price objective on shares of Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a report on Friday, July 17th.

Insiders Place Their Bets

In other Revolution Medicines news, CFO Jack Anders sold 20,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total value of $3,366,600.00. Following the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 60,400 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $160.17, for a total value of $9,674,268.00. Following the transaction, the chief operating officer owned 158,222 shares in the company, valued at approximately $25,342,417.74. This trade represents a 27.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 132,497 shares of company stock worth $21,470,486 over the last three months. Insiders own 7.60% of the company’s stock.

Institutional Trading of Revolution Medicines

A number of institutional investors and hedge funds have recently modified their holdings of RVMD. Indiana Trust & Investment Management Co bought a new position in Revolution Medicines during the 4th quarter worth approximately $32,000. Contravisory Investment Management Inc. bought a new stake in Revolution Medicines in the second quarter valued at approximately $32,000. Global Retirement Partners LLC raised its holdings in Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the period. Torren Management LLC bought a new position in shares of Revolution Medicines during the fourth quarter worth $33,000. Finally, Arax Advisory Partners bought a new position in shares of Revolution Medicines during the fourth quarter worth $38,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $187.53 on Friday. The stock has a market capitalization of $39.87 billion, a P/E ratio of -26.52 and a beta of 1.39. Revolution Medicines has a 52 week low of $34.00 and a 52 week high of $194.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a fifty day moving average of $172.57 and a 200-day moving average of $134.97.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business earned ($1.13) earnings per share. On average, equities research analysts forecast that Revolution Medicines will post -7.92 EPS for the current year.

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.