Revolution Medicines, Inc. (NASDAQ:RVMD) Stock Has Consensus Target Price of $234.76 According to Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned an average rating of “Moderate Buy” from the twenty-five ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twenty-two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $234.81.

Several brokerages recently commented on RVMD. Evercore reissued an “outperform” rating and issued a $320.00 price target on shares of Revolution Medicines in a report on Thursday, August 27th. Morgan Stanley began coverage on shares of Revolution Medicines in a research report on Thursday, September 10th. They set an “overweight” rating and a $255.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $275.00 target price on shares of Revolution Medicines in a research report on Thursday. Raymond James Financial restated a “strong-buy” rating and set a $248.00 price target on shares of Revolution Medicines in a research report on Thursday, August 27th. Finally, Royal Bank Of Canada raised their price target on shares of Revolution Medicines from $259.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday.

Revolution Medicines Price Performance

Shares of RVMD opened at $177.96 on Wednesday. Revolution Medicines has a 12 month low of $52.40 and a 12 month high of $224.31. The stock’s 50 day moving average is $203.22 and its two-hundred day moving average is $173.42. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period last year, the business earned ($1.31) earnings per share. As a group, sell-side analysts expect that Revolution Medicines will post -8.93 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In other news, Director Elizabeth Anderson sold 10,143 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.04, for a total value of $1,958,004.72. Following the sale, the director directly owned 4,333 shares of the company’s stock, valued at $836,442.32. The trade was a 70.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Margaret Horn sold 4,967 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total value of $989,625.08. Following the sale, the chief operating officer owned 149,680 shares of the company’s stock, valued at $29,822,243.20. The trade was a 3.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 290,991 shares of company stock valued at $59,422,765. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Large investors have recently modified their holdings of the business. Burkett Financial Services LLC acquired a new stake in shares of Revolution Medicines in the third quarter valued at about $27,000. Contravisory Investment Management Inc. acquired a new position in Revolution Medicines during the second quarter worth about $32,000. Johnson Financial Group Inc. acquired a new position in Revolution Medicines during the second quarter worth about $37,000. Silvant Capital Management LLC acquired a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $41,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Revolution Medicines in the 2nd quarter valued at $41,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted therapies for patients with cancer. The company’s research centers on the RAS signaling pathway, a key driver of tumor growth that is altered in many cancers, including those involving KRAS mutations.

Its pipeline includes RAS(ON) inhibitors designed to target active RAS proteins and address a range of RAS-driven tumors. Key development programs include daraxonrasib (RMC-6236), a broad-spectrum RAS inhibitor, and zoldonrasib (RMC-9805), an investigational inhibitor aimed at KRAS G12D-mutated cancers.