Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $41.20 Average Target Price from Brokerages

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

RVMD has been the subject of a number of research reports. Oppenheimer raised their price target on shares of Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Piper Sandler assumed coverage on Revolution Medicines in a report on Monday, March 11th. They issued an “overweight” rating and a $43.00 price target on the stock. Raymond James upgraded Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $36.00 to $48.00 in a report on Wednesday, April 10th. Wedbush boosted their price target on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $46.00 target price (up from $36.00) on shares of Revolution Medicines in a research report on Monday, April 8th.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 7,500 shares of the business’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 transaction, the insider now owns 452,879 shares of the company’s stock, valued at $16,068,146.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Mark A. Goldsmith sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $35.48, for a total transaction of $266,100.00. Following the completion of the sale, the insider now owns 452,879 shares in the company, valued at $16,068,146.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jeff Cislini sold 1,500 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $30.99, for a total transaction of $46,485.00. Following the transaction, the general counsel now directly owns 54,374 shares of the company’s stock, valued at $1,685,050.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,705 shares of company stock worth $630,749. Insiders own 8.50% of the company’s stock.

Institutional Trading of Revolution Medicines

A number of large investors have recently bought and sold shares of RVMD. China Universal Asset Management Co. Ltd. lifted its position in shares of Revolution Medicines by 101.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock valued at $78,000 after buying an additional 1,409 shares during the last quarter. Manchester Capital Management LLC bought a new stake in Revolution Medicines in the 4th quarter valued at about $80,000. Allspring Global Investments Holdings LLC purchased a new stake in Revolution Medicines during the first quarter valued at about $104,000. Fred Alger Management LLC bought a new position in Revolution Medicines during the third quarter worth about $126,000. Finally, Federated Hermes Inc. purchased a new position in shares of Revolution Medicines in the third quarter worth about $126,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $38.82 on Friday. The stock’s 50-day moving average is $32.84 and its 200 day moving average is $28.22. Revolution Medicines has a one year low of $15.44 and a one year high of $39.49. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of -10.30 and a beta of 1.54.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The business had revenue of $0.74 million during the quarter, compared to analysts’ expectations of $1.20 million. The business’s quarterly revenue was down 95.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.63) EPS. On average, sell-side analysts expect that Revolution Medicines will post -3.18 EPS for the current fiscal year.

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.