Brokerages Set Revolution Medicines, Inc. (NASDAQ:RVMD) PT at $66.67

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have received an average recommendation of “Buy” from the twelve research firms that are covering the stock, Marketbeat reports. Twelve research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued a report on the stock in the last year is $67.17.

Several equities analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $57.00 price target on shares of Revolution Medicines in a research note on Thursday. Guggenheim cut their price objective on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. Stifel Nicolaus reduced their target price on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Oppenheimer lifted their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, HC Wainwright boosted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd.

Revolution Medicines Price Performance

RVMD opened at $40.58 on Wednesday. The firm has a fifty day moving average price of $37.36 and a 200 day moving average price of $43.39. Revolution Medicines has a 1 year low of $29.17 and a 1 year high of $62.40. The stock has a market cap of $7.56 billion, a P/E ratio of -11.30 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same quarter in the prior year, the firm earned ($0.70) EPS. Equities analysts expect that Revolution Medicines will post -3.49 EPS for the current year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the transaction, the insider now directly owns 441,564 shares in the company, valued at approximately $17,238,658.56. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the sale, the chief operating officer now directly owns 153,533 shares of the company’s stock, valued at $5,993,928.32. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock worth $650,406 in the last 90 days. 8.00% of the stock is owned by insiders.

Institutional Trading of Revolution Medicines

A number of hedge funds have recently added to or reduced their stakes in RVMD. IFP Advisors Inc acquired a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC grew its position in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after buying an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after buying an additional 1,613 shares during the period. Kapitalo Investimentos Ltda acquired a new position in Revolution Medicines in the 4th quarter valued at $104,000. Finally, GF Fund Management CO. LTD. purchased a new position in Revolution Medicines during the 4th quarter worth $154,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.