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

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been assigned an average recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings 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 1 year price target among brokerages that have issued a report on the stock in the last year is $65.82.

A number of equities analysts have commented on RVMD shares. Needham & Company LLC restated a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Wedbush reissued an “outperform” rating and issued a $70.00 price objective on shares of Revolution Medicines in a research note on Monday, December 2nd. Piper Sandler lifted their target price on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays increased their price target on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, HC Wainwright lifted their price objective on Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, December 4th.

Revolution Medicines Stock Up 1.3 %

RVMD opened at $43.74 on Thursday. The business has a fifty day moving average of $51.06 and a 200 day moving average of $46.32. The stock has a market cap of $7.36 billion, a P/E ratio of -12.18 and a beta of 1.40. Revolution Medicines has a 52-week low of $25.93 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter in the previous year, the firm earned ($0.99) EPS. Equities analysts anticipate that Revolution Medicines will post -3.5 EPS for the current fiscal year.

Insider Activity

In related news, COO Margaret A. Horn sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 132,320 shares of the company’s stock, valued at $6,660,988.80. This represents a 27.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thilo Schroeder purchased 1,304,347 shares of the stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the acquisition, the director now owns 2,096,612 shares of the company’s stock, valued at approximately $96,444,152. This represents a 164.64 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 136,544 shares of company stock worth $6,754,306. Corporate insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently modified their holdings of RVMD. Bank of New York Mellon Corp increased its stake in Revolution Medicines by 21.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 645,253 shares of the company’s stock valued at $25,042,000 after purchasing an additional 115,844 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Revolution Medicines by 48.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,562 shares of the company’s stock valued at $953,000 after acquiring an additional 7,994 shares during the period. Rhumbline Advisers raised its stake in Revolution Medicines by 9.2% in the 2nd quarter. Rhumbline Advisers now owns 228,567 shares of the company’s stock worth $8,871,000 after acquiring an additional 19,257 shares during the last quarter. Arizona State Retirement System lifted its position in Revolution Medicines by 15.6% during the 2nd quarter. Arizona State Retirement System now owns 32,273 shares of the company’s stock worth $1,253,000 after acquiring an additional 4,349 shares during the period. Finally, American Century Companies Inc. purchased a new stake in Revolution Medicines during the 2nd quarter valued at about $20,154,000. 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.