FY2024 EPS Estimate for Revolution Medicines Cut by Analyst

Revolution Medicines, Inc. (NASDAQ:RVMD) – HC Wainwright lowered their FY2024 earnings per share estimates for Revolution Medicines in a research note issued on Thursday, November 7th. HC Wainwright analyst R. Burns now expects that the company will earn ($3.44) per share for the year, down from their previous estimate of ($3.38). HC Wainwright has a “Buy” rating and a $64.00 price target on the stock. The consensus estimate for Revolution Medicines’ current full-year earnings is ($3.42) per share. HC Wainwright also issued estimates for Revolution Medicines’ Q4 2024 earnings at ($0.99) EPS, Q1 2025 earnings at ($1.01) EPS, Q2 2025 earnings at ($1.03) EPS, Q3 2025 earnings at ($1.04) EPS, Q4 2025 earnings at ($1.06) EPS and FY2025 earnings at ($4.14) EPS.

Other research analysts have also issued reports about the company. Piper Sandler raised their price target on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their price target on shares of Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of Revolution Medicines from $54.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Bank of America lifted their target price on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Barclays lifted their price objective on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $61.00.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $60.60 on Monday. Revolution Medicines has a fifty-two week low of $19.05 and a fifty-two week high of $62.40. The company has a 50 day moving average price of $47.56 and a 200 day moving average price of $43.27. The stock has a market capitalization of $10.19 billion, a P/E ratio of -16.88 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the previous year, the firm posted ($0.99) EPS.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Revolution Medicines in the first quarter valued at approximately $104,000. SG Americas Securities LLC increased its stake in shares of Revolution Medicines by 153.9% during the 1st quarter. SG Americas Securities LLC now owns 9,129 shares of the company’s stock valued at $294,000 after acquiring an additional 5,534 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Revolution Medicines in the 1st quarter valued at $528,000. Headlands Technologies LLC boosted its holdings in Revolution Medicines by 140.9% in 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 last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Revolution Medicines by 6.8% during the 1st quarter. ProShare Advisors LLC now owns 36,605 shares of the company’s stock worth $1,180,000 after purchasing an additional 2,331 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Barbara Weber sold 5,200 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the sale, the director now owns 13,065 shares in the company, valued at $627,381.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the transaction, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 10,000 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the sale, the insider now directly owns 300,170 shares in the company, valued at $13,486,638.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock worth $6,355,624 in the last ninety days. 8.00% of the stock is owned by corporate insiders.

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.