Mizuho Issues Positive Forecast for Revolution Medicines (NASDAQ:RVMD) Stock Price

Revolution Medicines (NASDAQ:RVMD) had its target price boosted by analysts at Mizuho from $185.00 to $215.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 13.61% from the company’s previous close.

A number of other research firms also recently weighed in on RVMD. Truist Financial raised their price target on shares of Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Evercore restated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Royal Bank Of Canada upped their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Finally, Piper Sandler increased their price target on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Revolution Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $142.33.

Revolution Medicines Price Performance

Shares of RVMD stock opened at $189.24 on Monday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines has a twelve month low of $34.00 and a twelve month high of $193.10. The company has a market cap of $40.23 billion, a P/E ratio of -26.77 and a beta of 1.37. The business has a fifty day simple moving average of $156.00 and a 200 day simple moving average of $120.84.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business earned ($1.13) earnings per share. On average, sell-side analysts forecast that Revolution Medicines will post -7.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the transaction, the director directly owned 21,656 shares in the company, valued at approximately $4,071,111.44. This represents a 20.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jack Anders sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the transaction, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at $20,749,870.77. The trade was a 13.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 252,497 shares of company stock worth $39,481,286 over the last quarter. 7.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolution Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of RVMD. Indiana Trust & Investment Management Co bought a new position in Revolution Medicines during the 4th quarter worth $32,000. Global Retirement Partners LLC increased its stake in shares of Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares during the period. Torren Management LLC acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at about $33,000. Arax Advisory Partners bought a new position in shares of Revolution Medicines during the fourth quarter worth about $38,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Revolution Medicines during the fourth quarter worth about $40,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.