Revolution Medicines (NASDAQ:RVMD) Given New $145.00 Price Target at Needham & Company LLC

Revolution Medicines (NASDAQ:RVMD) had its price target reduced by equities research analysts at Needham & Company LLC from $150.00 to $145.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 40.45% from the company’s previous close.

RVMD has been the subject of a number of other research reports. UBS Group raised shares of Revolution Medicines to a “strong-buy” rating in a research note on Thursday, December 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Thursday, January 22nd. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada started coverage on Revolution Medicines in a research note on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price target on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $83.24.

Revolution Medicines Stock Down 1.5%

Shares of RVMD opened at $103.24 on Thursday. The company has a market capitalization of $19.96 billion, a PE ratio of -19.97 and a beta of 1.01. The stock’s 50-day moving average price is $98.19 and its two-hundred day moving average price is $69.66. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16. Revolution Medicines has a 12 month low of $29.17 and a 12 month high of $124.49.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period in the prior year, the business earned ($1.12) earnings per share. On average, analysts anticipate that Revolution Medicines will post -3.49 EPS for the current year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 75,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total transaction of $7,542,000.00. Following the completion of the sale, the chief operating officer owned 141,053 shares in the company, valued at approximately $14,184,289.68. The trade was a 34.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the completion of the transaction, the chief financial officer directly owned 108,065 shares in the company, valued at $10,590,370. This trade represents a 8.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 113,792 shares of company stock valued at $10,734,640 in the last 90 days. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its stake in Revolution Medicines by 83.1% during the 4th quarter. Invesco Ltd. now owns 367,851 shares of the company’s stock valued at $29,299,000 after acquiring an additional 166,909 shares in the last quarter. Corient Private Wealth LLC purchased a new position in Revolution Medicines during the fourth quarter worth about $215,000. ADAR1 Capital Management LLC boosted its holdings in Revolution Medicines by 4.3% during the fourth quarter. ADAR1 Capital Management LLC now owns 145,079 shares of the company’s stock worth $11,556,000 after purchasing an additional 5,943 shares during the last quarter. Empowered Funds LLC bought a new stake in Revolution Medicines in the 4th quarter worth about $77,000. Finally, KVP Capital Advisors LP purchased a new stake in Revolution Medicines in the 4th quarter valued at about $2,190,000. Institutional investors own 94.34% of the company’s stock.

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.