Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $66.31 Average Price Target from Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned a consensus recommendation of “Buy” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $66.31.

RVMD has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. HC Wainwright boosted their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Stifel Nicolaus dropped their target price on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. Finally, UBS Group boosted their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the sale, the insider now directly owns 441,564 shares in the company, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jack Anders sold 1,864 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock valued at $650,406 over the last quarter. Company insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Institutional investors have recently bought and sold shares of the company. IFP Advisors Inc purchased a new stake in Revolution Medicines during the fourth quarter worth $34,000. Quarry LP purchased a new stake in Revolution Medicines during the third quarter worth $82,000. Sterling Capital Management LLC lifted its position in shares of Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after acquiring an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after acquiring an additional 1,613 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at $104,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Down 0.7 %

RVMD opened at $38.49 on Tuesday. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of -10.72 and a beta of 1.46. Revolution Medicines has a 52 week low of $29.55 and a 52 week high of $62.40. The business’s 50 day moving average is $40.63 and its two-hundred day moving average is $45.73.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). Equities analysts expect that Revolution Medicines will post -3.49 EPS for the current fiscal year.

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.