Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $30.20 Consensus Price Target from Brokerages

Posted by on Jun 9th, 2022

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Get Rating) have been given a consensus recommendation of “Buy” by the seven analysts that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $30.20.

Several research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Revolution Medicines in a research report on Friday, May 20th. They issued a “neutral” rating and a $24.00 price objective on the stock. Stifel Nicolaus upgraded shares of Revolution Medicines from a “hold” rating to a “buy” rating and lowered their price objective for the company from $36.00 to $26.00 in a research report on Tuesday, March 1st. Zacks Investment Research raised shares of Revolution Medicines from a “sell” rating to a “hold” rating in a report on Saturday, April 23rd. HC Wainwright increased their target price on Revolution Medicines from $38.00 to $40.00 in a research note on Tuesday, March 1st. Finally, SVB Leerink reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Monday, May 9th.

Revolution Medicines stock opened at $19.62 on Thursday. Revolution Medicines has a fifty-two week low of $14.08 and a fifty-two week high of $35.07. The stock has a market cap of $1.46 billion, a P/E ratio of -6.98 and a beta of 2.03. The firm’s fifty day moving average price is $20.05 and its 200-day moving average price is $22.14.

Revolution Medicines (NASDAQ:RVMD – Get Rating) last announced its earnings results on Monday, May 9th. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.04. Revolution Medicines had a negative return on equity of 33.52% and a negative net margin of 773.42%. During the same period last year, the company posted ($0.53) EPS. As a group, equities research analysts forecast that Revolution Medicines will post -3.58 EPS for the current year.

In related news, Director Thilo Schroeder acquired 42,000 shares of the company’s stock in a transaction dated Friday, March 25th. The stock was purchased at an average price of $24.79 per share, with a total value of $1,041,180.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have purchased 256,884 shares of company stock worth $5,623,467. 22.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RVMD. Marshall Wace LLP purchased a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $26,000. Royal Bank of Canada bought a new position in Revolution Medicines during the 3rd quarter valued at approximately $48,000. First Mercantile Trust Co. increased its position in Revolution Medicines by 23.3% during the 3rd quarter. First Mercantile Trust Co. now owns 1,853 shares of the company’s stock valued at $51,000 after buying an additional 350 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Revolution Medicines in the third quarter worth $114,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Revolution Medicines by 34.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,743 shares of the company’s stock valued at $170,000 after acquiring an additional 1,744 shares in the last quarter.

About Revolution Medicines (Get Rating)

Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.

Featured Stories

Analyst Recommendations for Revolution Medicines (NASDAQ:RVMD)

Want More Great Investing Ideas?

Receive News & Ratings for Revolution Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revolution Medicines and related companies with MarketBeat.com's FREE daily email newsletter.