Barclays Boosts Revolution Medicines (NASDAQ:RVMD) Price Target to $60.00

Revolution Medicines (NASDAQ:RVMD) had its price target increased by stock analysts at Barclays from $54.00 to $60.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 34.80% from the stock’s current price.

A number of other equities analysts have also weighed in on RVMD. Oppenheimer boosted their price objective on Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Wedbush restated an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $56.00 target price on shares of Revolution Medicines in a report on Monday, August 12th. JPMorgan Chase & Co. dropped their price target on shares of Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Bank of America upped their price objective on shares of Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $54.00.

Revolution Medicines Trading Up 1.5 %

Shares of NASDAQ:RVMD traded up $0.65 on Friday, hitting $44.51. 217,863 shares of the company were exchanged, compared to its average volume of 1,332,978. The firm has a market capitalization of $7.34 billion, a P/E ratio of -11.87 and a beta of 1.43. Revolution Medicines has a 1-year low of $15.44 and a 1-year high of $48.61. The stock’s 50 day moving average price is $43.79 and its 200 day moving average price is $39.47.

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

Insider Transactions at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $45.88, for a total value of $458,800.00. Following the transaction, the insider now directly owns 311,885 shares of the company’s stock, valued at approximately $14,309,283.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $45.88, for a total value of $458,800.00. Following the completion of the transaction, the insider now directly owns 311,885 shares of the company’s stock, valued at approximately $14,309,283.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Michael Kelsey sold 16,667 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $46.47, for a total value of $774,515.49. Following the completion of the transaction, the insider now owns 269,073 shares in the company, valued at approximately $12,503,822.31. The disclosure for this sale can be found here. Insiders sold 56,221 shares of company stock valued at $2,552,337 over the last 90 days. Corporate insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Several large investors have recently bought and sold shares of RVMD. Wellington Management Group LLP grew its position in shares of Revolution Medicines by 40.8% in the fourth quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock valued at $426,818,000 after purchasing an additional 4,309,611 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Revolution Medicines by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock worth $475,622,000 after acquiring an additional 122,721 shares during the period. Farallon Capital Management LLC boosted its position in shares of Revolution Medicines by 30.0% during the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock valued at $378,696,000 after acquiring an additional 2,249,820 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in shares of Revolution Medicines by 46.6% in the first quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company’s stock valued at $243,312,000 after purchasing an additional 2,400,592 shares during the period. Finally, BVF Inc. IL increased its position in Revolution Medicines by 50.2% during the fourth quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock worth $171,541,000 after purchasing an additional 2,000,000 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

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.