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

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have earned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $41.20.

Several research analysts have recently issued reports on RVMD shares. Bank of America upgraded shares of Revolution Medicines from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $31.00 to $34.00 in a report on Friday, January 5th. Oppenheimer upped their price target on Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Wedbush raised their price objective on Revolution Medicines from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. 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 initiated coverage on Revolution Medicines in a research report on Monday, March 11th. They issued an “overweight” rating and a $43.00 target price for the company.

Insiders Place Their Bets

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 2,123 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $67,044.34. Following the sale, the insider now directly owns 270,909 shares of the company’s stock, valued at $8,555,306.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Margaret A. Horn sold 2,914 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $92,024.12. Following the transaction, the chief operating officer now owns 139,553 shares in the company, valued at approximately $4,407,083.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen Michael Kelsey sold 2,123 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $67,044.34. Following the completion of the sale, the insider now owns 270,909 shares of the company’s stock, valued at approximately $8,555,306.22. The disclosure for this sale can be found here. Insiders sold 18,705 shares of company stock worth $630,749 over the last three months. 8.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolution Medicines

Several hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its holdings in Revolution Medicines by 101.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock valued at $78,000 after acquiring an additional 1,409 shares during the last quarter. Manchester Capital Management LLC bought a new position in shares of Revolution Medicines in the 4th quarter valued at about $80,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Revolution Medicines during the first quarter worth approximately $104,000. Fred Alger Management LLC bought a new stake in shares of Revolution Medicines during the third quarter worth approximately $126,000. Finally, Federated Hermes Inc. acquired a new position in Revolution Medicines in the third quarter valued at approximately $126,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Stock Up 4.1 %

Shares of NASDAQ:RVMD opened at $38.82 on Friday. The company has a market cap of $6.62 billion, a price-to-earnings ratio of -10.30 and a beta of 1.54. The business has a 50 day moving average price of $32.84 and a 200 day moving average price of $28.22. Revolution Medicines has a twelve month low of $15.44 and a twelve month high of $39.49.

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