Revolution Medicines (NASDAQ:RVMD) Now Covered by Analysts at Brookline Capital Markets

Equities research analysts at Brookline Capital Markets began coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a research report issued on Monday, Benzinga reports. The firm set a “buy” rating and a $318.00 price target on the stock. Brookline Capital Markets’ price objective would indicate a potential upside of 56.09% from the stock’s previous close.

RVMD has been the subject of a number of other reports. Truist Financial boosted their price target on Revolution Medicines from $231.00 to $239.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. HC Wainwright boosted their price target on Revolution Medicines from $195.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Evercore reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 27th. Wolfe Research reissued an “outperform” rating and issued a $220.00 target price on shares of Revolution Medicines in a research report on Monday, August 10th. Finally, Wedbush boosted their price objective on shares of Revolution Medicines from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Revolution Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.33.

Revolution Medicines Price Performance

RVMD stock traded down $1.25 during trading on Monday, reaching $203.72. 615,530 shares of the company were exchanged, compared to its average volume of 2,905,349. The stock’s 50 day moving average price is $200.82 and its 200 day moving average price is $163.37. Revolution Medicines has a 52-week low of $44.05 and a 52-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 $43.67 billion, a P/E ratio of -23.06 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the business earned ($1.31) earnings per share. As a group, analysts predict that Revolution Medicines will post -8.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mark Goldsmith sold 13,988 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total transaction of $2,786,969.12. Following the transaction, the insider owned 253,342 shares of the company’s stock, valued at approximately $50,475,860.08. This trade represents a 5.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret Horn sold 4,967 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total value of $989,625.08. Following the completion of the transaction, the chief operating officer owned 149,680 shares of the company’s stock, valued at approximately $29,822,243.20. The trade was a 3.21% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 284,682 shares of company stock worth $58,147,464. 7.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds have recently added to or reduced their stakes in the stock. Alphabet Inc. acquired a new stake in Revolution Medicines during the 2nd quarter worth about $551,843,000. Norges Bank acquired a new stake in Revolution Medicines during the 4th quarter valued at $195,568,000. Avoro Capital Advisors LLC acquired a new stake in shares of Revolution Medicines in the fourth quarter worth $172,840,000. Polar Capital Holdings Plc grew its stake in Revolution Medicines by 321.2% during the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock valued at $160,398,000 after acquiring an additional 1,535,686 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Revolution Medicines during the second quarter worth approximately $184,267,000. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.