Revolution Medicines (NASDAQ:RVMD) Stock Price Expected to Rise, Guggenheim Analyst Says

Revolution Medicines (NASDAQ:RVMD) had its price target boosted by stock analysts at Guggenheim from $275.00 to $298.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim‘s price objective would suggest a potential upside of 62.06% from the company’s current price.

Other research analysts also recently issued reports about the company. Raymond James Financial reissued a “strong-buy” rating and issued a $248.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 27th. Truist Financial upped their target price on Revolution Medicines from $240.00 to $241.00 and gave the stock a “buy” rating in a research report on Monday, October 19th. Sanford C. Bernstein increased their price target on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a report on Friday, August 21st. TD Cowen reiterated a “buy” rating and set a $250.00 price target on shares of Revolution Medicines in a report on Wednesday, October 21st. Finally, UBS Group lifted their price target on shares of Revolution Medicines from $220.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.00.

Revolution Medicines Stock Down 7.9%

Revolution Medicines stock traded down $15.82 during mid-day trading on Thursday, hitting $183.88. 1,693,867 shares of the company’s stock were exchanged, compared to its average volume of 2,776,867. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock has a market cap of $39.41 billion, a P/E ratio of -20.82 and a beta of 1.44. Revolution Medicines has a 1-year low of $58.91 and a 1-year high of $224.31. The stock has a 50 day moving average of $198.21 and a two-hundred day moving average of $156.90.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 4th. The company reported ($1.90) earnings per share for the quarter, beating the consensus estimate of ($2.35) by $0.45. The company had revenue of $197.56 million for the quarter, compared to the consensus estimate of $25.58 million. During the same quarter last year, the business earned ($1.61) earnings per share. As a group, analysts anticipate that Revolution Medicines will post -8.94 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In related news, insider Alan Sandler sold 6,309 shares of the stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $202.14, for a total value of $1,275,301.26. Following the completion of the sale, the insider owned 52,559 shares in the company, valued at approximately $10,624,276.26. This trade represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lorence Kim sold 56,000 shares of Revolution Medicines stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $203.24, for a total value of $11,381,440.00. Following the sale, the director directly owned 17,090 shares in the company, valued at approximately $3,473,371.60. This trade represents a 76.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 290,991 shares of company stock valued at $59,422,765 in the last three months. Company insiders own 7.60% of the company’s stock.

Institutional Trading of Revolution Medicines

A number of hedge funds have recently modified their holdings of the company. Alphabet Inc. bought a new stake in shares of Revolution Medicines during the second quarter valued at approximately $551,843,000. Assenagon Asset Management S.A. lifted its position in Revolution Medicines by 987.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company’s stock worth $447,710,000 after purchasing an additional 1,980,699 shares during the period. Bank of America Corp DE bought a new position in Revolution Medicines in the second quarter worth $184,267,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Revolution Medicines by 82.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 912,335 shares of the company’s stock worth $170,862,000 after purchasing an additional 411,740 shares during the period. Finally, Deutsche Bank AG acquired a new stake in Revolution Medicines during the second quarter worth $166,308,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company’s research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.