Revolution Medicines (RVMD) Scheduled to Post Earnings on Wednesday

Revolution Medicines (NASDAQ:RVMD) is scheduled to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.75) per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The firm had revenue of $0.74 million during the quarter, compared to the consensus estimate of $1.20 million. The business’s revenue for the quarter was down 95.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.63) EPS. On average, analysts expect Revolution Medicines to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock traded down $0.22 during trading on Tuesday, hitting $38.83. The stock had a trading volume of 76,855 shares, compared to its average volume of 1,347,719. The business has a fifty day moving average of $33.42 and a two-hundred day moving average of $28.37. Revolution Medicines has a fifty-two week low of $15.44 and a fifty-two week high of $40.21. The firm has a market cap of $6.62 billion, a P/E ratio of -10.36 and a beta of 1.46.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RVMD. Oppenheimer raised their price objective on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Piper Sandler started coverage on Revolution Medicines in a research note on Monday, March 11th. They issued an “overweight” rating and a $43.00 price target for the company. Raymond James upgraded Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $36.00 to $48.00 in a report on Wednesday, April 10th. Wedbush upped their price objective on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, 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 report on Monday, April 8th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $41.20.

Insider Buying and Selling at Revolution Medicines

In other news, General Counsel Jeff Cislini sold 1,252 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the transaction, the general counsel now directly owns 55,874 shares of the company’s stock, valued at approximately $1,764,500.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Margaret A. Horn sold 2,914 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $92,024.12. Following the completion of the sale, the chief operating officer now owns 139,553 shares in the company, valued at $4,407,083.74. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Jeff Cislini sold 1,252 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $39,538.16. Following the transaction, the general counsel now owns 55,874 shares in the company, valued at approximately $1,764,500.92. 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. Corporate insiders own 8.50% 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.