Revolution Medicines, Inc. (RVMD) – What Are Analysts Thinking About This Stock?

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $262.75.

A number of research firms have recently commented on RVMD. Wedbush increased their price target on shares of Revolution Medicines from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. UBS Group raised their price target on shares of Revolution Medicines from $220.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Oppenheimer boosted their price objective on shares of Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Guggenheim upped their price objective on Revolution Medicines from $275.00 to $298.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Finally, The Goldman Sachs Group began coverage on Revolution Medicines in a research report on Thursday, September 24th. They issued a “buy” rating and a $267.00 price objective on the stock.

Revolution Medicines Stock Down 2.3%

Revolution Medicines stock traded down $4.06 during mid-day trading on Friday, hitting $172.29. The company had a trading volume of 2,654,066 shares, compared to its average volume of 2,385,159. The company has a current ratio of 8.36, a quick ratio of 8.34 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average price is $194.46 and its two-hundred day moving average price is $159.42. Revolution Medicines has a 12 month low of $63.50 and a 12 month high of $224.31. The company has a market capitalization of $37.26 billion, a PE ratio of -18.91 and a beta of 1.44.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($1.90) earnings per share for the quarter, beating the consensus estimate of ($2.35) by $0.45. The company had revenue of $197.56 million for the quarter, compared to the consensus estimate of $25.58 million. During the same quarter in the previous year, the business earned ($1.61) earnings per share. As a group, sell-side analysts anticipate that Revolution Medicines will post -7.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Margaret A. Horn sold 4,967 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $989,625.08. Following the transaction, the chief operating officer directly owned 149,680 shares of the company’s stock, valued at $29,822,243.20. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Elizabeth M. Anderson sold 10,143 shares of the stock in a transaction on Tuesday, September 22nd. The shares were 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 in the company, valued at $836,442.32. This trade represents a 70.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 326,741 shares of company stock worth $66,147,340. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds have recently bought and sold shares of RVMD. Alphabet Inc. purchased a new stake in shares of Revolution Medicines during the 2nd quarter valued at about $551,843,000. Assenagon Asset Management S.A. raised its holdings in shares of Revolution Medicines by 987.9% during the third quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company’s stock valued at $447,710,000 after purchasing an additional 1,980,699 shares during the last quarter. Winslow Capital Management LLC purchased a new position in shares of Revolution Medicines during the third quarter valued at approximately $260,191,000. Bank of America Corp DE purchased a new position in shares of Revolution Medicines during the second quarter valued at approximately $184,267,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Revolution Medicines by 82.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 912,335 shares of the company’s stock valued at $170,862,000 after purchasing an additional 411,740 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

Revolution Medicines, Inc. is a biotechnology company focused on developing targeted therapies for patients with RAS-driven cancers. Founded in 2014 and headquartered in Redwood City, California, the company’s research centers on RAS proteins, which can contribute to the growth of many cancers. The company’s pipeline includes drug candidates designed to inhibit mutant RAS proteins, including daraxonrasib (RMC-6236), which targets multiple RAS variants, and candidates directed at specific KRAS mutations.