Guggenheim Increases Revolution Medicines (NASDAQ:RVMD) Price Target to $82.00

Revolution Medicines (NASDAQ:RVMD) had its target price upped by research analysts at Guggenheim from $72.00 to $82.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 62.63% from the stock’s previous close.

Several other brokerages have also recently issued reports on RVMD. Jefferies Financial Group began 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 for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $61.00 price objective on shares of Revolution Medicines in a research note on Thursday, October 24th. Bank of America upped their price objective on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. HC Wainwright reaffirmed a “buy” rating and set a $56.00 price objective on shares of Revolution Medicines in a research note on Monday, August 12th. Finally, Barclays boosted their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $56.75.

Revolution Medicines Stock Up 5.6 %

RVMD stock opened at $50.42 on Monday. Revolution Medicines has a 52 week low of $18.00 and a 52 week high of $51.00. The stock has a market capitalization of $8.42 billion, a P/E ratio of -13.45 and a beta of 1.43. The firm has a 50-day simple moving average of $45.49 and a 200-day simple moving average of $42.13.

Revolution Medicines (NASDAQ:RVMD) last announced 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 company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.81 million. During the same period in the previous year, the company posted ($0.92) earnings per share. The company’s quarterly revenue was down 73.8% compared to the same quarter last year. On average, analysts expect that Revolution Medicines will post -3.35 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In other news, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.30, for a total value of $503,000.00. Following the transaction, the chief financial officer now directly owns 98,932 shares in the company, valued at approximately $4,976,279.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the transaction, the director now directly owns 13,065 shares in the company, valued at approximately $627,381.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.30, for a total transaction of $503,000.00. Following the completion of the transaction, the chief financial officer now owns 98,932 shares in the company, valued at approximately $4,976,279.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,866 shares of company stock worth $6,814,424. 8.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

Large investors have recently added to or reduced their stakes in the business. 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 worth $28,000 after buying an additional 222 shares during the period. Headlands Technologies LLC increased its stake in Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after buying an additional 885 shares during the period. Values First Advisors Inc. purchased a new stake in Revolution Medicines during the 3rd quarter worth approximately $93,000. Allspring Global Investments Holdings LLC purchased a new stake in Revolution Medicines during the 1st quarter worth approximately $104,000. Finally, EntryPoint Capital LLC purchased a new stake in Revolution Medicines during the 1st quarter worth approximately $107,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Company Profile

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.