HC Wainwright Raises Revolution Medicines (NASDAQ:RVMD) Price Target to $73.00

Revolution Medicines (NASDAQ:RVMD) had its price target lifted by research analysts at HC Wainwright from $72.00 to $73.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 23.02% from the company’s previous close.

A number of other equities analysts have also recently issued reports on RVMD. Mizuho began coverage on shares of Revolution Medicines in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $90.00 price objective for the company. Lifesci Capital began coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They issued an “outperform” rating and a $80.00 price objective for the company. Truist Financial began coverage on shares of Revolution Medicines in a research note on Friday, September 5th. They issued a “buy” rating and a $99.00 price objective for the company. National Bankshares set a $80.00 price objective on shares of Revolution Medicines in a research note on Friday, October 17th. Finally, Royal Bank Of Canada assumed coverage on shares of Revolution Medicines in a research note on Monday. They issued an “outperform” rating and a $77.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and a consensus price target of $77.53.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $59.34 on Thursday. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $47.71 and a 200 day simple moving average of $41.67. The company has a market cap of $11.09 billion, a P/E ratio of -13.19 and a beta of 1.25. Revolution Medicines has a 1 year low of $29.17 and a 1 year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same period last year, the company earned ($0.94) EPS. On average, sell-side analysts predict that Revolution Medicines will post -3.49 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 13,411 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $614,492.02. Following the completion of the sale, the insider owned 452,309 shares in the company, valued at approximately $20,724,798.38. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 2,320 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $106,302.40. Following the completion of the sale, the chief financial officer owned 110,994 shares of the company’s stock, valued at $5,085,745.08. The trade was a 2.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 188,033 shares of company stock worth $8,456,208 over the last ninety days. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in Revolution Medicines by 8.9% in the 1st quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company’s stock valued at $416,821,000 after acquiring an additional 966,230 shares in the last quarter. Nextech Invest Ltd. increased its position in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after acquiring an additional 1,304,347 shares in the last quarter. BVF Inc. IL increased its position in Revolution Medicines by 19.2% in the 1st quarter. BVF Inc. IL now owns 4,982,384 shares of the company’s stock valued at $176,177,000 after acquiring an additional 801,205 shares in the last quarter. Bellevue Group AG boosted its stake in shares of Revolution Medicines by 4.7% in the 2nd quarter. Bellevue Group AG now owns 4,579,300 shares of the company’s stock valued at $168,472,000 after purchasing an additional 205,000 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Revolution Medicines in the 2nd quarter valued at about $62,584,000. Institutional investors and hedge funds 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.