Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $135.39 Average Price Target from Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD) has been given a consensus recommendation of “Moderate Buy” by the twenty-two ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eighteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $144.00.

A number of equities analysts have recently commented on RVMD shares. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They set a “market perform” rating and a $151.00 price target on the stock. Piper Sandler increased their price objective on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Royal Bank Of Canada upped their price target on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Jefferies Financial Group began coverage on Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating for the company.

Insiders Place Their Bets

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,020 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the completion of the sale, the insider owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. This represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 29,600 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the sale, the chief operating officer directly owned 154,647 shares of the company’s stock, valued at $24,762,077.64. This represents a 16.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 252,497 shares of company stock valued at $39,481,286 over the last three months. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds have recently bought and sold shares of RVMD. Indiana Trust & Investment Management Co bought a new position in shares of Revolution Medicines in the 4th quarter worth about $32,000. Contravisory Investment Management Inc. bought a new stake in shares of Revolution Medicines during the 2nd quarter valued at about $32,000. Global Retirement Partners LLC grew its stake in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the period. Torren Management LLC bought a new stake in Revolution Medicines in the fourth quarter worth approximately $33,000. Finally, Arax Advisory Partners bought a new stake in Revolution Medicines in the fourth quarter worth approximately $38,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Down 2.2%

Shares of Revolution Medicines stock traded down $4.25 on Monday, hitting $186.88. The stock had a trading volume of 1,353,896 shares, compared to its average volume of 3,028,482. The stock has a 50 day moving average of $161.23 and a 200 day moving average of $124.47. The firm has a market capitalization of $39.73 billion, a P/E ratio of -26.43 and a beta of 1.37. Revolution Medicines has a twelve month low of $34.00 and a twelve month high of $193.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the previous year, the company earned ($1.13) EPS. Sell-side analysts expect that Revolution Medicines will post -7.92 earnings per share for the current fiscal year.

Revolution Medicines Company Profile

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.