Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $71.00 at UBS Group

Revolution Medicines (NASDAQ:RVMD) had its price objective upped by equities research analysts at UBS Group from $65.00 to $71.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 59.84% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $68.00 price objective on shares of Revolution Medicines in a report on Tuesday, December 3rd. Piper Sandler lifted their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer boosted their price target on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Guggenheim raised their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $66.25.

Revolution Medicines Stock Up 0.2 %

Shares of RVMD stock opened at $44.42 on Wednesday. The business has a fifty day simple moving average of $50.44 and a 200 day simple moving average of $46.54. The company has a market cap of $7.47 billion, a P/E ratio of -12.37 and a beta of 1.46. Revolution Medicines has a twelve month low of $25.93 and a twelve month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data 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 last year, the business posted ($0.99) EPS. As a group, equities research analysts anticipate that Revolution Medicines will post -3.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Revolution Medicines news, COO Margaret A. Horn sold 4,329 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the transaction, the chief operating officer now owns 127,991 shares in the company, valued at approximately $5,810,791.40. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thilo Schroeder acquired 1,304,347 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were purchased at an average price 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 ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 35,344 shares of company stock worth $1,672,782. Corporate insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Everence Capital Management Inc. bought a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $203,000. Lord Abbett & CO. LLC bought a new position in Revolution Medicines during the 3rd quarter valued at $83,082,000. Wilmington Savings Fund Society FSB purchased a new position in Revolution Medicines during the 3rd quarter worth $801,000. Geode Capital Management LLC grew its stake in shares of Revolution Medicines by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company’s stock worth $164,517,000 after acquiring an additional 291,369 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Revolution Medicines by 187.1% in the third quarter. Barclays PLC now owns 294,664 shares of the company’s stock valued at $13,362,000 after purchasing an additional 192,021 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.