Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $61.00 Consensus Target Price from Analysts

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been given a consensus rating of “Buy” by the twelve analysts that are currently covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $61.00.

Several research firms have recently commented on RVMD. HC Wainwright upped their price target on Revolution Medicines from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays upped their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Guggenheim lifted their target price on shares of Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, October 28th. Piper Sandler increased their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a report on Thursday, August 8th.

Insider Activity at Revolution Medicines

In related news, COO Margaret A. Horn sold 50,000 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.34, for a total value of $2,517,000.00. Following the sale, the chief operating officer now directly owns 132,320 shares in the company, valued at $6,660,988.80. The trade was a 27.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the transaction, the insider now owns 300,170 shares of the company’s stock, valued at $13,486,638.10. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,866 shares of company stock valued at $6,355,624 in the last ninety days. Corporate insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Several institutional investors and hedge funds have recently modified their holdings of RVMD. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 222 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after acquiring an additional 885 shares during the last quarter. Quarry LP purchased a new stake in shares of Revolution Medicines in the third quarter valued at $82,000. Values First Advisors Inc. acquired a new stake in shares of Revolution Medicines during the third quarter valued at $93,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Revolution Medicines during the 1st quarter worth about $104,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $56.47 on Wednesday. The company has a market capitalization of $9.50 billion, a P/E ratio of -15.73 and a beta of 1.40. Revolution Medicines has a 1 year low of $20.51 and a 1 year high of $62.40. The company’s fifty day moving average is $49.68 and its two-hundred day moving average is $44.24.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly 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 period in the previous year, the firm earned ($0.99) earnings per share. As a group, equities analysts expect that Revolution Medicines will post -3.51 earnings per share for the current year.

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.