Revolution Medicines, Inc. (NASDAQ:RVMD) Stock Has Consensus Price Target of $226.17 According to Brokerages

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been assigned an average rating of “Moderate Buy” from the twenty-three research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $230.15.

A number of brokerages recently weighed in on RVMD. Wedbush upped their price objective on Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. TD Cowen raised Revolution Medicines to a “strong-buy” rating in a report on Monday, August 24th. HC Wainwright boosted their target price on shares of Revolution Medicines from $195.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Stifel Nicolaus upped their price target on shares of Revolution Medicines from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a report on Friday, July 17th.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $204.97 on Friday. Revolution Medicines has a 52 week low of $42.78 and a 52 week high of $224.31. The company has a 50-day moving average price of $200.82 and a 200 day moving average price of $162.92. The company has a market cap of $43.93 billion, a P/E ratio of -23.24 and a beta of 1.40. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the prior year, the business posted ($1.31) earnings per share. Research analysts predict that Revolution Medicines will post -8.87 earnings per share for the current year.

Insider Activity at Revolution Medicines

In other news, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director owned 21,656 shares of the company’s stock, valued at $4,071,111.44. The trade was a 20.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth M. Anderson sold 10,143 shares of the company’s 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 completion of the sale, the director owned 4,333 shares in the company, valued at approximately $836,442.32. This represents a 70.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 290,262 shares of company stock valued at $59,196,448 in the last ninety days. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Advisory Services Inc. grew its holdings in Revolution Medicines by 3.0% in the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after purchasing an additional 120 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Revolution Medicines by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after buying an additional 125 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Revolution Medicines by 147.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company’s stock worth $41,000 after buying an additional 130 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Revolution Medicines during the 2nd quarter worth $32,000. Finally, ABS Investment Management LLC purchased a new stake in shares of Revolution Medicines in the 2nd quarter worth about $337,104,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.