Revolution Medicines, Inc. (NASDAQ:RVMD) Given Consensus Recommendation of “Buy” by Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $54.00.

A number of research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research note on Monday, July 8th. They set a “buy” rating and a $63.00 price objective on the stock. Barclays boosted their price objective on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Wedbush reaffirmed an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Bank of America raised their price objective on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th.

Insider Buying and Selling at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 16,666 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the transaction, the insider now owns 264,408 shares in the company, valued at approximately $13,085,551.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Revolution Medicines news, COO Margaret A. Horn sold 50,000 shares of Revolution Medicines stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the sale, the chief operating officer now owns 132,320 shares of the company’s stock, valued at $6,660,988.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the completion of the transaction, the insider now directly owns 264,408 shares of the company’s stock, valued at approximately $13,085,551.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,866 shares of company stock worth $6,814,424. 8.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after buying an additional 222 shares during the period. Headlands Technologies LLC increased its stake in shares of Revolution Medicines by 140.9% during the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after acquiring an additional 885 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Revolution Medicines during the first quarter worth approximately $104,000. EntryPoint Capital LLC acquired a new stake in Revolution Medicines in the first quarter worth approximately $107,000. Finally, Nisa Investment Advisors LLC boosted its stake in Revolution Medicines by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $50.43 on Friday. Revolution Medicines has a 1 year low of $15.44 and a 1 year high of $51.00. The stock’s 50-day simple moving average is $44.82 and its 200-day simple moving average is $41.29. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of -13.85 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.81 million. The firm’s revenue was down 73.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.92) EPS. As a group, research analysts predict that Revolution Medicines will post -3.35 EPS for the current year.

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.