Revolution Medicines (NASDAQ:RVMD) Now Covered by Analysts at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group assumed coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a research report issued on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $267.00 price target on the stock. The Goldman Sachs Group’s target price points to a potential upside of 30.26% from the stock’s current price.

RVMD has been the topic of several other reports. Royal Bank Of Canada raised their target price on shares of Revolution Medicines from $203.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Truist Financial boosted their price objective on shares of Revolution Medicines from $231.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Mizuho upped their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Raymond James Financial reissued a “strong-buy” rating and issued a $248.00 target price on shares of Revolution Medicines in a research report on Thursday, August 27th. Finally, Morgan Stanley began coverage on Revolution Medicines in a report on Thursday, September 10th. They set an “overweight” rating and a $255.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $230.15.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock traded up $5.11 during midday trading on Thursday, hitting $204.97. The company had a trading volume of 2,520,270 shares, compared to its average volume of 2,918,288. The business’s 50 day simple moving average is $200.82 and its two-hundred day simple moving average is $162.92. Revolution Medicines has a 1-year low of $42.78 and a 1-year high of $224.31. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The stock has a market cap of $43.93 billion, a PE ratio of -23.24 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter last year, the business earned ($1.31) earnings per share. As a group, equities analysts predict that Revolution Medicines will post -8.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Margaret Horn sold 4,967 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total transaction of $989,625.08. Following the transaction, the chief operating officer owned 149,680 shares in the company, valued at approximately $29,822,243.20. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Goldsmith sold 13,988 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $2,786,969.12. Following the completion of the sale, the insider directly owned 253,342 shares of the company’s stock, valued at $50,475,860.08. The trade was a 5.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 290,262 shares of company stock valued at $59,196,448 in the last 90 days. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors have recently modified their holdings of RVMD. Contravisory Investment Management Inc. bought a new stake in Revolution Medicines in the second quarter worth $32,000. ABS Investment Management LLC bought a new position in shares of Revolution Medicines in the 2nd quarter worth approximately $337,104,000. Johnson Financial Group Inc. bought a new stake in Revolution Medicines during the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Revolution Medicines in the 2nd quarter worth about $41,000. Finally, Silvant Capital Management LLC bought a new position in Revolution Medicines in the 2nd quarter valued at approximately $41,000. 94.34% of the stock is currently owned by institutional investors.

About Revolution Medicines

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.