Mizuho Forecasts Strong Price Appreciation for Revolution Medicines (NASDAQ:RVMD) Stock

Revolution Medicines (NASDAQ:RVMD) had its price objective hoisted by equities research analysts at Mizuho from $185.00 to $215.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 13.61% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on RVMD. Guggenheim boosted their price objective on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Needham & Company LLC increased their target price on Revolution Medicines from $183.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Wedbush boosted their price target on Revolution Medicines from $165.00 to $181.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Oppenheimer upped their price objective on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.33.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $189.24 on Monday. The company has a market cap of $40.23 billion, a P/E ratio of -26.77 and a beta of 1.37. The firm’s fifty day moving average price is $156.00 and its two-hundred day moving average price is $120.84. Revolution Medicines has a one year low of $34.00 and a one year high of $193.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the prior year, the business posted ($1.13) EPS. Equities analysts expect that Revolution Medicines will post -7.94 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jack Anders sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the sale, the chief financial officer owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 10,020 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $1,564,322.40. Following the transaction, the insider owned 267,330 shares in the company, valued at approximately $41,735,559.60. This trade represents a 3.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 252,497 shares of company stock valued at $39,481,286 in the last quarter. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RVMD. General Atlantic L.P. bought a new stake in Revolution Medicines during the third quarter worth about $115,556,000. Norges Bank acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $195,568,000. Avoro Capital Advisors LLC bought a new stake in shares of Revolution Medicines during the 4th quarter worth approximately $172,840,000. UBS Group AG lifted its holdings in shares of Revolution Medicines by 183.6% during the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock worth $245,954,000 after acquiring an additional 1,998,972 shares during the period. Finally, Polar Capital Holdings Plc boosted its position in shares of Revolution Medicines by 321.2% during the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after acquiring an additional 1,535,686 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

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.