Revolution Medicines (NASDAQ:RVMD) PT Raised to $45.00

Revolution Medicines (NASDAQ:RVMD) had its price target boosted by equities research analysts at Oppenheimer from $43.00 to $45.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 24.76% from the stock’s current price.

Several other analysts have also issued reports on RVMD. Bank of America upgraded shares of Revolution Medicines from a “neutral” rating to a “buy” rating and boosted their target price for the company from $31.00 to $34.00 in a research report on Friday, January 5th. Wedbush lifted their price target on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. UBS Group began coverage on shares of Revolution Medicines in a report on Wednesday, December 20th. They set a “buy” rating and a $40.00 price target on the stock. Raymond James raised shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $36.00 to $48.00 in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 price target (up previously from $36.00) on shares of Revolution Medicines in a report on Monday, April 8th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $41.20.

Revolution Medicines Stock Down 3.6 %

Shares of RVMD stock opened at $36.07 on Friday. The company has a 50 day moving average price of $31.13 and a 200-day moving average price of $27.30. Revolution Medicines has a 52 week low of $15.44 and a 52 week high of $38.73. The firm has a market capitalization of $5.94 billion, a PE ratio of -9.57 and a beta of 1.54.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The company had revenue of $0.74 million for the quarter, compared to the consensus estimate of $1.20 million. The company’s revenue for the quarter was down 95.2% compared to the same quarter last year. During the same period last year, the business earned ($0.63) EPS. Analysts anticipate that Revolution Medicines will post -3.17 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 2,123 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $67,044.34. Following the transaction, the insider now owns 270,909 shares in the company, valued at $8,555,306.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Revolution Medicines news, insider Stephen Michael Kelsey sold 2,123 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $67,044.34. Following the transaction, the insider now owns 270,909 shares in the company, valued at $8,555,306.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $35.48, for a total transaction of $266,100.00. Following the transaction, the insider now owns 452,879 shares in the company, valued at approximately $16,068,146.92. The disclosure for this sale can be found here. Insiders have sold 20,205 shares of company stock worth $671,249 over the last quarter. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings 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 worth $426,818,000 after purchasing an additional 4,309,611 shares during the last quarter. Vanguard Group Inc. grew its holdings in Revolution Medicines by 51.8% during the 4th quarter. Vanguard Group Inc. now owns 14,634,391 shares of the company’s stock worth $419,714,000 after acquiring an additional 4,990,800 shares in the last quarter. BlackRock Inc. grew its holdings in Revolution Medicines by 10.6% during the 2nd quarter. BlackRock Inc. now owns 8,257,616 shares of the company’s stock worth $220,891,000 after acquiring an additional 791,842 shares in the last quarter. Nextech Invest Ltd. grew its holdings in Revolution Medicines by 30.1% during the 4th quarter. Nextech Invest Ltd. now owns 6,296,740 shares of the company’s stock worth $180,591,000 after acquiring an additional 1,457,211 shares in the last quarter. Finally, BVF Inc. IL grew its holdings in Revolution Medicines by 50.2% during the 4th quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock worth $171,541,000 after acquiring an additional 2,000,000 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

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.