Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $71.00 at UBS Group

Revolution Medicines (NASDAQ:RVMD) had its price objective raised by UBS Group from $65.00 to $71.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $68.00 price target on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Oppenheimer increased their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Barclays lifted their price target on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Wedbush reissued an “outperform” rating and issued a $70.00 price objective on shares of Revolution Medicines in a research report on Monday, December 2nd. Finally, HC Wainwright boosted their target price on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $66.25.

Revolution Medicines Stock Up 0.2 %

NASDAQ:RVMD opened at $44.42 on Wednesday. The stock has a fifty day simple moving average of $50.63 and a 200 day simple moving average of $46.55. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of -12.37 and a beta of 1.46. Revolution Medicines has a 1-year low of $25.93 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period in the prior year, the business posted ($0.99) EPS. Equities analysts predict that Revolution Medicines will post -3.5 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.36, for a total value of $1,510,800.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at $15,116,561.20. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thilo Schroeder acquired 1,304,347 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was purchased at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the transaction, the director now directly owns 2,096,612 shares in the company, valued at approximately $96,444,152. The trade was a 164.64 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 131,344 shares of company stock worth $6,504,602 in the last three months. Insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. Quarry LP bought a new position in Revolution Medicines in the third quarter valued at approximately $82,000. Values First Advisors Inc. acquired a new stake in Revolution Medicines during the 3rd quarter worth $93,000. KBC Group NV raised its position in shares of Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Revolution Medicines in the 4th quarter valued at $203,000. Institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

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.