Revolution Medicines, Inc. (NASDAQ:RVMD) Given Consensus Recommendation of “Buy” by Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned a consensus rating of “Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $41.20.

A number of equities analysts recently weighed in on RVMD shares. Wedbush raised their price objective on Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Bank of America raised Revolution Medicines from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $31.00 to $34.00 in a research note on Friday, January 5th. Needham & Company LLC reiterated a “buy” rating and issued a $46.00 price objective (up previously from $36.00) on shares of Revolution Medicines in a research report on Monday, April 8th. Raymond James upgraded Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $36.00 to $48.00 in a research report on Wednesday, April 10th. Finally, Piper Sandler assumed coverage on Revolution Medicines in a research report on Monday, March 11th. They issued an “overweight” rating and a $43.00 price objective for the company.

Insider Activity at Revolution Medicines

In related news, General Counsel Jeff Cislini sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $30.99, for a total transaction of $46,485.00. Following the completion of the transaction, the general counsel now owns 54,374 shares in the company, valued at $1,685,050.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Mark A. Goldsmith sold 7,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $35.48, for a total value of $266,100.00. Following the sale, the insider now directly owns 452,879 shares of the company’s stock, valued at $16,068,146.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Jeff Cislini sold 1,500 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $30.99, for a total value of $46,485.00. Following the completion of the sale, the general counsel now directly owns 54,374 shares in the company, valued at $1,685,050.26. The disclosure for this sale can be found here. Insiders sold a total of 18,705 shares of company stock worth $630,749 over the last quarter. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. Vanguard Group Inc. grew its stake in Revolution Medicines by 51.8% in the fourth quarter. Vanguard Group Inc. now owns 14,634,391 shares of the company’s stock worth $419,714,000 after purchasing an additional 4,990,800 shares during the period. Wellington Management Group LLP grew its stake in 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 period. BVF Inc. IL grew its stake in Revolution Medicines by 50.2% in the fourth quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock worth $171,541,000 after purchasing an additional 2,000,000 shares during the period. Bain Capital Life Sciences Investors LLC purchased a new stake in Revolution Medicines in the fourth quarter worth $31,904,000. Finally, Vestal Point Capital LP purchased a new stake in shares of Revolution Medicines in the fourth quarter worth $20,793,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Trading Up 1.8 %

Shares of RVMD opened at $35.96 on Friday. The company has a market cap of $5.92 billion, a PE ratio of -9.54 and a beta of 1.54. Revolution Medicines has a 12-month low of $15.44 and a 12-month high of $38.73. The stock has a 50-day moving average price of $32.33 and a 200-day moving average price of $27.97.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Monday, February 26th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The company had revenue of $0.74 million during the quarter, compared to the consensus estimate of $1.20 million. The company’s quarterly revenue was down 95.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.63) earnings per share. As a group, analysts predict that Revolution Medicines will post -3.18 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.