Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $43.20 Consensus Price Target from Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD) has been given a consensus rating of “Buy” by the ten brokerages that are covering the company, MarketBeat.com 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 target price among brokers that have issued ratings on the stock in the last year is $43.20.

Several research firms have recently issued reports on RVMD. Wedbush upped their target price on Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. HC Wainwright reaffirmed a “buy” rating and issued a $44.00 target price on shares of Revolution Medicines in a report on Monday, May 13th. Oppenheimer upped their target price on Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 target price on shares of Revolution Medicines in a report on Thursday, May 9th. Finally, Raymond James raised Revolution Medicines from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $36.00 to $48.00 in a report on Wednesday, April 10th.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 1,261 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,822.38. Following the sale, the chief financial officer now owns 101,959 shares in the company, valued at $3,219,865.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Revolution Medicines news, CFO Jack Anders sold 1,261 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,822.38. Following the sale, the chief financial officer now owns 101,959 shares in the company, valued at $3,219,865.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Margaret A. Horn sold 2,914 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $92,024.12. Following the sale, the chief operating officer now owns 139,553 shares in the company, valued at approximately $4,407,083.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,705 shares of company stock valued at $1,031,049. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Revolution Medicines by 2.7% in the third quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock worth $292,646,000 after buying an additional 282,786 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Revolution Medicines by 3.2% in the third quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock worth $266,935,000 after buying an additional 303,088 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Revolution Medicines in the third quarter worth $2,644,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Revolution Medicines by 45.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,405 shares of the company’s stock worth $2,306,000 after buying an additional 25,160 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Revolution Medicines by 63.1% in the fourth quarter. Victory Capital Management Inc. now owns 558,369 shares of the company’s stock worth $16,014,000 after buying an additional 216,010 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Down 0.5 %

Shares of Revolution Medicines stock opened at $37.95 on Wednesday. The company has a market cap of $6.26 billion, a PE ratio of -10.12 and a beta of 1.46. Revolution Medicines has a 52 week low of $15.44 and a 52 week high of $40.63. The business has a 50 day moving average price of $35.47 and a 200-day moving average price of $30.12.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.05. The firm’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.72) earnings per share. As a group, research analysts anticipate that Revolution Medicines will post -3.12 EPS for the current year.

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.