Revolution Medicines (NASDAQ:RVMD) Price Target Cut to $78.00 by Analysts at Stifel Nicolaus

Revolution Medicines (NASDAQ:RVMD) had its target price lowered by analysts at Stifel Nicolaus from $80.00 to $78.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 91.06% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Guggenheim lifted their target price on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and set a $70.00 target price on shares of Revolution Medicines in a research report on Monday, December 2nd. HC Wainwright raised their price target on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Piper Sandler lifted their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Revolution Medicines has an average rating of “Buy” and a consensus target price of $66.46.

Revolution Medicines Price Performance

Shares of RVMD traded up $0.33 during trading hours on Thursday, hitting $40.83. 562,268 shares of the stock were exchanged, compared to its average volume of 1,266,223. Revolution Medicines has a fifty-two week low of $29.00 and a fifty-two week high of $62.40. The business has a 50-day moving average of $42.30 and a 200-day moving average of $46.24. The firm has a market capitalization of $6.87 billion, a P/E ratio of -11.34 and a beta of 1.45.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). As a group, analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Thilo Schroeder purchased 1,304,347 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was acquired at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the acquisition, the director now owns 2,096,612 shares of the company’s stock, valued at $96,444,152. This represents a 164.64 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jack Anders sold 2,635 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the completion of the sale, the chief financial officer now directly owns 96,470 shares of the company’s stock, valued at $4,379,738. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,678 shares of company stock worth $847,981 in the last quarter. Insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc lifted its position in shares of Revolution Medicines by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock valued at $220,000 after purchasing an additional 270 shares in the last quarter. Captrust Financial Advisors increased its stake in Revolution Medicines by 4.1% in the 3rd quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after buying an additional 337 shares during the last quarter. KBC Group NV lifted 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 worth $146,000 after buying an additional 368 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Revolution Medicines by 11.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock worth $186,000 after buying an additional 434 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Revolution Medicines by 8.3% in the fourth quarter. Amalgamated Bank now owns 5,707 shares of the company’s stock valued at $250,000 after acquiring an additional 435 shares in the last quarter. 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.