Revolution Medicines (NASDAQ:RVMD) Rating Increased to Strong-Buy at TD Cowen

Revolution Medicines (NASDAQ:RVMD) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts also recently commented on the stock. Oppenheimer reissued an “outperform” rating and set a $230.00 price objective on shares of Revolution Medicines in a report on Thursday, August 6th. HC Wainwright reaffirmed a “buy” rating and issued a $195.00 target price on shares of Revolution Medicines in a report on Monday, July 6th. Wolfe Research reiterated an “outperform” rating and issued a $220.00 target price on shares of Revolution Medicines in a research report on Monday, August 10th. Wedbush increased their price target on Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Needham & Company LLC raised their price target on Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.89.

Revolution Medicines Trading Up 1.0%

Revolution Medicines stock opened at $211.58 on Monday. Revolution Medicines has a 1 year low of $35.62 and a 1 year high of $220.34. The firm’s 50 day moving average price is $189.02 and its 200-day moving average price is $145.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The stock has a market cap of $45.35 billion, a P/E ratio of -23.99 and a beta of 1.39.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the previous year, the company posted ($1.31) EPS. On average, equities analysts predict that Revolution Medicines will post -8.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 60,400 shares of Revolution Medicines stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $160.17, for a total value of $9,674,268.00. Following the completion of the transaction, the chief operating officer owned 158,222 shares in the company, valued at approximately $25,342,417.74. This trade represents a 27.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the sale, the director directly owned 21,656 shares in the company, valued at $4,071,111.44. The trade was a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 132,497 shares of company stock valued at $21,470,486 in the last quarter. 7.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds have recently added to or reduced their stakes in RVMD. California State Teachers Retirement System raised its position in Revolution Medicines by 26,920.9% in the 2nd quarter. California State Teachers Retirement System now owns 44,659,351 shares of the company’s stock worth $8,363,803,000 after purchasing an additional 44,494,074 shares during the period. Vanguard Group Inc. boosted its position in shares of Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after buying an additional 1,056,792 shares during the period. Janus Henderson Group PLC grew its stake in shares of Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after buying an additional 947,448 shares during the last quarter. Nextech Invest Ltd. grew its stake in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP raised its holdings in shares of Revolution Medicines by 6.8% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock worth $529,227,000 after buying an additional 421,112 shares during the period. 94.34% of the stock is currently 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.