Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $53.45 Consensus PT from Brokerages

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have received an average recommendation of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $53.45.

A number of research firms recently commented on RVMD. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price target on shares of Revolution Medicines in a report on Monday, August 12th. Barclays upped their price target on Revolution Medicines from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut their price target on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Oppenheimer boosted their price objective on Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group began coverage on shares of Revolution Medicines in a research report on Monday, July 8th. They set a “buy” rating and a $63.00 target price for the company.

Revolution Medicines Price Performance

RVMD opened at $43.86 on Tuesday. Revolution Medicines has a fifty-two week low of $15.44 and a fifty-two week high of $48.61. The firm has a market capitalization of $7.33 billion, a P/E ratio of -11.77 and a beta of 1.43. The company’s 50-day moving average is $43.84 and its 200 day moving average is $39.44.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.81 million. During the same period last year, the firm earned ($0.92) earnings per share. The company’s revenue was down 73.8% compared to the same quarter last year. On average, equities research analysts expect that Revolution Medicines will post -3.47 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 25,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $45.05, for a total transaction of $1,126,250.00. Following the transaction, the insider now directly owns 311,885 shares of the company’s stock, valued at $14,050,419.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Mark A. Goldsmith sold 25,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $45.05, for a total value of $1,126,250.00. Following the completion of the sale, the insider now owns 311,885 shares of the company’s stock, valued at approximately $14,050,419.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sushil Patel sold 2,155 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $44.00, for a total value of $94,820.00. Following the transaction, the director now owns 19,948 shares in the company, valued at $877,712. The disclosure for this sale can be found here. In the last three months, insiders sold 56,221 shares of company stock worth $2,552,337. 8.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolution Medicines

Large investors have recently modified their holdings of the business. Headlands Technologies LLC lifted its position in shares of Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Revolution Medicines during the 1st quarter valued at approximately $104,000. EntryPoint Capital LLC purchased a new position in shares of Revolution Medicines during the 1st quarter worth approximately $107,000. Nisa Investment Advisors LLC raised its position in shares of Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after acquiring an additional 320 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Revolution Medicines by 7.4% during the second quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock valued at $205,000 after purchasing an additional 365 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.