Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $259.00

by · The Cerbat Gem

Revolution Medicines (NASDAQ:RVMD – Free Report) had its target price boosted by Royal Bank Of Canada from $251.00 to $259.00 in a research report released on Thursday morning, Marketbeat Ratings reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Mizuho lifted their target price on Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Guggenheim increased their price target on Revolution Medicines from $240.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Wolfe Research restated an “outperform” rating and set a $220.00 price target on shares of Revolution Medicines in a report on Monday, August 10th. Stifel Nicolaus raised their price target on Revolution Medicines from $215.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Finally, Evercore reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.76.

Read Our Latest Stock Analysis on RVMD

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $189.76 on Thursday. The firm has a market cap of $40.67 billion, a price-to-earnings ratio of -21.51 and a beta of 1.40. The firm has a fifty day moving average price of $203.88 and a 200 day moving average price of $170.13. Revolution Medicines has a fifty-two week low of $47.28 and a fifty-two 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.

Revolution Medicines (NASDAQ:RVMD – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the company posted ($1.31) EPS. As a group, sell-side analysts expect that Revolution Medicines will post -8.98 earnings per share for the current fiscal year.

Insider Activity

In other Revolution Medicines news, insider Alan B. Sandler sold 6,309 shares of Revolution Medicines stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $202.14, for a total transaction of $1,275,301.26. Following the completion of the transaction, the insider directly owned 52,559 shares of the company’s stock, valued at $10,624,276.26. The trade was a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 80,000 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the transaction, the insider owned 267,330 shares in the company, valued at $55,925,436. This trade represents a 23.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 290,991 shares of company stock worth $59,422,765. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in Revolution Medicines by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after purchasing an additional 947,448 shares during the last quarter. Alphabet Inc. purchased a new stake in Revolution Medicines in the 2nd quarter worth about $551,843,000. ABS Investment Management LLC bought a new stake in Revolution Medicines in the second quarter worth about $337,104,000. General Atlantic L.P. lifted its stake in Revolution Medicines by 13.7% in the fourth quarter. General Atlantic L.P. now owns 2,812,928 shares of the company’s stock worth $224,050,000 after purchasing an additional 338,500 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Revolution Medicines during the second quarter valued at approximately $184,267,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

(Get Free Report)

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted therapies for patients with cancer. The company’s research centers on the RAS signaling pathway, a key driver of tumor growth that is altered in many cancers, including those involving KRAS mutations.

Its pipeline includes RAS(ON) inhibitors designed to target active RAS proteins and address a range of RAS-driven tumors. Key development programs include daraxonrasib (RMC-6236), a broad-spectrum RAS inhibitor, and zoldonrasib (RMC-9805), an investigational inhibitor aimed at KRAS G12D-mutated cancers.

Featured Articles