Revolution Medicines, Inc. (NASDAQ:RVMD) Stock Has Average Target Price of $234.76 According to Brokerages

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have received a consensus recommendation of “Moderate Buy” from the twenty-five brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twenty-two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $242.60.

Several analysts have recently weighed in on the company. HC Wainwright lifted their target price on Revolution Medicines from $195.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Raymond James Financial restated a “strong-buy” rating and issued a $248.00 price target on shares of Revolution Medicines in a report on Thursday, August 27th. The Goldman Sachs Group started coverage on shares of Revolution Medicines in a research note on Thursday, September 24th. They issued a “buy” rating and a $267.00 price target on the stock. William Blair began coverage on shares of Revolution Medicines in a report on Friday, October 16th. They set an “outperform” rating for the company. Finally, Mizuho lifted their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 6th.

Revolution Medicines Trading Up 7.9%

Shares of NASDAQ RVMD opened at $196.55 on Wednesday. Revolution Medicines has a fifty-two week low of $52.48 and a fifty-two week high of $224.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The company has a market cap of $42.13 billion, a price-to-earnings ratio of -22.28 and a beta of 1.40. The business’s 50 day moving average price is $202.54 and its 200-day moving average price is $175.28.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the firm posted ($1.31) earnings per share. On average, sell-side analysts expect that Revolution Medicines will post -8.93 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, insider Alan Sandler sold 6,309 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $202.14, for a total transaction of $1,275,301.26. Following the transaction, the insider directly owned 52,559 shares of the company’s stock, valued at approximately $10,624,276.26. This trade represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elizabeth Anderson sold 10,143 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $193.04, for a total transaction of $1,958,004.72. Following the sale, the director directly owned 4,333 shares of the company’s stock, valued at $836,442.32. This represents a 70.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 290,991 shares of company stock valued at $59,422,765. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors have recently made changes to their positions in the company. Alphabet Inc. purchased a new position in shares of Revolution Medicines during the 2nd quarter valued at about $551,843,000. Avoro Capital Advisors LLC acquired a new position in shares of Revolution Medicines in the 4th quarter valued at about $172,840,000. Assenagon Asset Management S.A. boosted its stake in shares of Revolution Medicines by 987.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company’s stock worth $447,710,000 after buying an additional 1,980,699 shares during the last quarter. Polar Capital Holdings Plc boosted its stake in shares of Revolution Medicines by 321.2% in the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after buying an additional 1,535,686 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Revolution Medicines in the second quarter worth about $184,267,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company’s research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.