Revolution Medicines, Inc. (NASDAQ:RVMD) Given Average Rating of “Buy” by Analysts

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have received an average rating of “Buy” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $54.00.

Several brokerages recently issued reports on RVMD. HC Wainwright restated a “buy” rating and set a $56.00 price objective on shares of Revolution Medicines in a research report on Monday, August 12th. Jefferies Financial Group initiated coverage on Revolution Medicines in a report on Monday, July 8th. They set a “buy” rating and a $63.00 target price on the stock. Bank of America boosted their price target on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Oppenheimer boosted their target price on shares of Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Barclays lifted their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 27th.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $48.51 on Friday. Revolution Medicines has a one year low of $18.00 and a one year high of $51.00. The firm has a 50 day simple moving average of $45.12 and a 200-day simple moving average of $41.71. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of -13.33 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.81 million. The business’s revenue was down 73.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.92) earnings per share. Equities analysts predict that Revolution Medicines will post -3.35 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, Director Barbara Weber sold 5,200 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the sale, the director now directly owns 13,065 shares in the company, valued at $627,381.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Revolution Medicines news, COO Margaret A. Horn sold 50,000 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.34, for a total value of $2,517,000.00. Following the completion of the sale, the chief operating officer now owns 132,320 shares of the company’s stock, valued at $6,660,988.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Barbara Weber sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the transaction, the director now directly owns 13,065 shares in the company, valued at approximately $627,381.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,866 shares of company stock worth $6,814,424 in the last ninety days. Company insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after purchasing an additional 222 shares in the last quarter. Headlands Technologies LLC raised its position in Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the period. Values First Advisors Inc. bought a new position in Revolution Medicines during the 3rd quarter worth approximately $93,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Revolution Medicines in the first quarter worth $104,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Revolution Medicines in the first quarter worth about $107,000. 94.34% of the stock is currently owned by institutional investors.

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.