Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $78.50 Average Price Target from Analysts

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have earned an average rating of “Buy” from the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and four have issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $78.50.

RVMD has been the topic of several research analyst reports. UBS Group upgraded shares of Revolution Medicines to a “strong-buy” rating in a research note on Thursday, December 4th. JPMorgan Chase & Co. raised their price target on shares of Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Wednesday, October 8th. Royal Bank Of Canada began coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They set an “outperform” rating and a $77.00 price objective for the company. Finally, The Goldman Sachs Group lifted their target price on Revolution Medicines from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, September 12th.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $80.58 on Thursday. Revolution Medicines has a twelve month low of $29.17 and a twelve month high of $81.62. 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 stock has a market capitalization of $15.58 billion, a PE ratio of -15.59 and a beta of 0.96. The stock has a 50-day simple moving average of $67.36 and a 200 day simple moving average of $49.62.

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

Insider Transactions at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 5,447 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $418,438.54. Following the sale, the insider directly owned 278,600 shares in the company, valued at approximately $21,402,052. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark A. Goldsmith sold 15,394 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total value of $1,182,567.08. Following the completion of the transaction, the insider owned 232,469 shares of the company’s stock, valued at $17,858,268.58. The trade was a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 183,792 shares of company stock worth $12,449,240 over the last 90 days. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its stake in Revolution Medicines by 171.3% in the second quarter. CWM LLC now owns 917 shares of the company’s stock valued at $34,000 after acquiring an additional 579 shares during the period. GAMMA Investing LLC boosted its holdings in Revolution Medicines by 45.1% during the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of Revolution Medicines in the 1st quarter valued at approximately $42,000. Quarry LP bought a new stake in shares of Revolution Medicines in the 1st quarter valued at approximately $50,000. Finally, Twin Tree Management LP acquired a new position in shares of Revolution Medicines in the 1st quarter worth approximately $58,000. 94.34% of the stock is owned by institutional investors.

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.