Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $226.17 Consensus Target Price from Analysts

by · The Markets Daily

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Get Free Report) have received an average recommendation of “Moderate Buy” from the twenty-two research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $228.2105.

RVMD has been the subject of a number of recent analyst reports. Guggenheim raised their price objective on shares of Revolution Medicines from $240.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 28th. UBS Group boosted their target price on Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Sanford C. Bernstein increased their target price on Revolution Medicines from $151.00 to $179.00 and gave the stock a “market perform” rating in a research note on Friday, August 21st. Bank of America increased their target price on Revolution Medicines from $225.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Oppenheimer raised their price target on Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 27th.

Get Our Latest Report on Revolution Medicines

Revolution Medicines Stock Down 1.1%

Shares of Revolution Medicines stock opened at $190.74 on Friday. The company has a market cap of $40.88 billion, a P/E ratio of -21.63 and a beta of 1.40. 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 has a one year low of $42.18 and a one year high of $224.31. The firm has a fifty day moving average of $200.03 and a two-hundred day moving average of $161.91.

Revolution Medicines (NASDAQ:RVMD – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the prior year, the business posted ($1.31) EPS. On average, analysts forecast that Revolution Medicines will post -8.87 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Margaret Horn sold 4,967 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $989,625.08. Following the transaction, the chief operating officer directly owned 149,680 shares in the company, valued at approximately $29,822,243.20. This trade represents a 3.21% decrease in their ownership of the stock. 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. Insiders have sold a total of 280,119 shares of company stock valued at $57,238,443 in the last three months. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Revolution Medicines during the 2nd quarter valued at approximately $32,000. Johnson Financial Group Inc. acquired a new stake in shares of Revolution Medicines in the 2nd quarter worth approximately $37,000. Silvant Capital Management LLC acquired a new stake in shares of Revolution Medicines in the 2nd quarter worth approximately $41,000. Northwestern Mutual Wealth Management Co. purchased a new position in Revolution Medicines in the 2nd quarter valued at approximately $41,000. Finally, Allworth Financial LP increased its stake in Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

About Revolution Medicines

(Get Free Report)

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.

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