Revolution Medicines, Inc. (NASDAQ:RVMD) Stock Has Consensus Price Target of $263.15 According to Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twenty-one have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $263.15.

Several research analysts have weighed in on the company. Evercore reiterated an “outperform” rating and issued a $320.00 target price on shares of Revolution Medicines in a research note on Thursday, August 27th. UBS Group upped their price target on Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. The Goldman Sachs Group assumed coverage on Revolution Medicines in a research note on Thursday, September 24th. They set a “buy” rating and a $267.00 price target for the company. Wedbush increased their price target on Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Finally, Guggenheim lifted their price objective on shares of Revolution Medicines from $275.00 to $298.00 and gave the company a “buy” rating in a research report on Thursday, November 5th.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark Goldsmith sold 80,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the completion of the transaction, the insider owned 267,330 shares in the company, valued at approximately $55,925,436. This represents a 23.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Kelsey sold 92,531 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $202.36, for a total transaction of $18,724,573.16. Following the completion of the sale, the insider owned 291,876 shares of the company’s stock, valued at $59,064,027.36. This trade represents a 24.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 290,991 shares of company stock worth $59,422,765 in the last 90 days. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds have recently added to or reduced their stakes in the company. Burkett Financial Services LLC acquired a new stake in shares of Revolution Medicines in the 3rd quarter valued at approximately $27,000. Contravisory Investment Management Inc. acquired a new position in Revolution Medicines during the second quarter worth $32,000. ABS Investment Management LLC purchased a new position in Revolution Medicines in the second quarter worth $337,104,000. Johnson Financial Group Inc. purchased a new position in Revolution Medicines in the second quarter worth $37,000. Finally, Mather Group LLC. purchased a new position in Revolution Medicines in the third quarter worth $41,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Trading Down 2.4%

Shares of RVMD opened at $176.35 on Friday. Revolution Medicines has a fifty-two week low of $63.50 and a fifty-two week high of $224.31. The firm has a 50-day simple moving average of $195.24 and a 200-day simple moving average of $159.06. The company has a current ratio of 8.36, a quick ratio of 8.34 and a debt-to-equity ratio of 0.44.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($1.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.35) by $0.45. The company had revenue of $197.56 million during the quarter, compared to analyst estimates of $25.58 million. During the same quarter last year, the firm earned ($1.61) EPS. Equities analysts forecast that Revolution Medicines will post -7.41 EPS for the current year.

Revolution Medicines Company Profile

Revolution Medicines, Inc. is a biotechnology company focused on developing targeted therapies for patients with RAS-driven cancers. Founded in 2014 and headquartered in Redwood City, California, the company’s research centers on RAS proteins, which can contribute to the growth of many cancers. The company’s pipeline includes drug candidates designed to inhibit mutant RAS proteins, including daraxonrasib (RMC-6236), which targets multiple RAS variants, and candidates directed at specific KRAS mutations.