Brokerages Set Revolution Medicines, Inc. (NASDAQ:RVMD) Target Price at $41.20

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned a consensus rating of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $41.20.

Several brokerages have issued reports on RVMD. Oppenheimer upped their target price on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Bank of America raised Revolution Medicines from a “neutral” rating to a “buy” rating and upped their target price for the stock from $31.00 to $34.00 in a research note on Friday, January 5th. Wedbush upped their target price on Revolution Medicines from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 target price (up previously from $36.00) on shares of Revolution Medicines in a research note on Monday, April 8th. Finally, Raymond James raised Revolution Medicines from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $36.00 to $48.00 in a research note on Wednesday, April 10th.

Revolution Medicines Trading Up 2.6 %

RVMD stock opened at $40.20 on Friday. The company’s 50 day moving average is $33.04 and its 200 day moving average is $28.30. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of -10.66 and a beta of 1.46. Revolution Medicines has a 1-year low of $15.44 and a 1-year high of $40.21.

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 company had revenue of $0.74 million for the quarter, compared to the consensus estimate of $1.20 million. The company’s revenue was down 95.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.63) EPS. As a group, sell-side analysts forecast that Revolution Medicines will post -3.18 EPS for the current fiscal year.

Insider Activity

In related news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the completion of the sale, the chief financial officer now owns 101,959 shares of the company’s stock, valued at $4,081,418.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the completion of the sale, the chief financial officer now owns 101,959 shares of the company’s stock, valued at $4,081,418.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark A. Goldsmith sold 7,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $35.48, for a total value of $266,100.00. Following the completion of the sale, the insider now directly owns 452,879 shares of the company’s stock, valued at approximately $16,068,146.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,705 shares of company stock valued at $1,031,049. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Revolution Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in Revolution Medicines by 40.8% in the fourth quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock worth $426,818,000 after purchasing an additional 4,309,611 shares in the last quarter. Vanguard Group Inc. raised its holdings in Revolution Medicines by 51.8% in the fourth quarter. Vanguard Group Inc. now owns 14,634,391 shares of the company’s stock worth $419,714,000 after purchasing an additional 4,990,800 shares in the last quarter. BVF Inc. IL raised its holdings in Revolution Medicines by 50.2% in the fourth quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock worth $171,541,000 after purchasing an additional 2,000,000 shares in the last quarter. Bellevue Group AG raised its holdings in Revolution Medicines by 7.8% in the fourth quarter. Bellevue Group AG now owns 5,091,000 shares of the company’s stock worth $146,010,000 after purchasing an additional 369,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Revolution Medicines by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,795,421 shares of the company’s stock worth $51,496,000 after purchasing an additional 133,558 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

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.