Analysts Set Revolution Medicines, Inc. (NASDAQ:RVMD) Price Target at $78.94

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned a consensus rating of “Buy” from the eighteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, thirteen have given a buy rating and four have given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $78.9412.

A number of research analysts have recently commented on RVMD shares. JPMorgan Chase & Co. increased their target price on Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Stifel Nicolaus began coverage on shares of Revolution Medicines in a research note on Wednesday, October 15th. They issued a “buy” rating and a $85.00 price objective for the company. HC Wainwright boosted their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Raymond James Financial increased their price target on shares of Revolution Medicines from $72.00 to $76.00 and gave the company a “strong-buy” rating in a report on Friday, October 17th.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 15,394 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $1,182,567.08. Following the sale, the insider owned 232,469 shares in the company, valued at approximately $17,858,268.58. This represents a 6.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $98.00, for a total transaction of $980,000.00. Following the transaction, the chief financial officer directly owned 108,065 shares of the company’s stock, valued at $10,590,370. The trade was a 8.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 243,792 shares of company stock valued at $19,757,740 over the last quarter. Company insiders own 8.20% of the company’s stock.

Institutional Trading of Revolution Medicines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. General Atlantic L.P. purchased a new position in shares of Revolution Medicines during the third quarter valued at approximately $115,556,000. Norges Bank bought a new stake in shares of Revolution Medicines during the 2nd quarter worth approximately $62,584,000. Nextech Invest Ltd. boosted its holdings in Revolution Medicines by 20.7% during 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 during the period. Vestal Point Capital LP purchased a new position in Revolution Medicines during the 2nd quarter valued at $44,148,000. Finally, Bellevue Group AG grew its position in Revolution Medicines by 21.7% in the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after acquiring an additional 994,538 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Trading Up 1.1%

Shares of Revolution Medicines stock opened at $121.22 on Monday. Revolution Medicines has a twelve month low of $29.17 and a twelve month high of $122.12. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $79.98 and a 200-day moving average price of $55.79. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of -23.45 and a beta of 0.99.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same quarter in the prior year, the company earned ($0.94) earnings per share. Equities research analysts anticipate that Revolution Medicines will post -3.49 EPS for the current fiscal year.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.