Analysts Set Revolution Medicines, Inc. (NASDAQ:RVMD) Price Target at $67.08

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been given a consensus rating of “Buy” by the twelve ratings firms that are covering the stock, MarketBeat.com reports. Twelve research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $67.08.

Several research analysts have commented on the stock. Wedbush restated an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. Oppenheimer boosted their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. Stifel Nicolaus cut their price objective on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Finally, Guggenheim reduced their target price on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $40.58 on Friday. The stock has a market cap of $7.56 billion, a P/E ratio of -11.30 and a beta of 1.11. Revolution Medicines has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The stock has a 50 day simple moving average of $37.67 and a two-hundred day simple moving average of $41.61.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same quarter in the prior year, the company posted ($0.70) earnings per share. Sell-side analysts predict that Revolution Medicines will post -3.49 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares of the company’s stock, valued at approximately $5,993,928.32. This represents a 1.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares of the company’s stock, valued at approximately $4,489,834.24. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 in the last ninety days. 8.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its holdings in Revolution Medicines by 187.1% in the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after acquiring an additional 192,021 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Revolution Medicines by 92.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company’s stock worth $2,711,000 after purchasing an additional 29,853 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Revolution Medicines by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company’s stock worth $84,467,000 after purchasing an additional 167,997 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Revolution Medicines by 11.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock worth $186,000 after purchasing an additional 434 shares during the last quarter. Finally, WCM Investment Management LLC bought a new position in shares of Revolution Medicines during the fourth quarter valued at $6,798,000. Institutional investors own 94.34% of the company’s stock.

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.