Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $66.25 Consensus Price Target from Brokerages

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been assigned an average rating of “Buy” from the thirteen research firms that are covering the company, Marketbeat.com reports. Twelve investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $66.23.

RVMD has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their price target on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday. Guggenheim upped their price target on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. UBS Group upped their price target on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright upped their target price on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Stifel Nicolaus reduced their target price on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday.

Revolution Medicines Price Performance

RVMD opened at $39.08 on Friday. The business has a 50 day simple moving average of $42.21 and a two-hundred day simple moving average of $46.19. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of -10.89 and a beta of 1.45. Revolution Medicines has a one year low of $29.00 and a one year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). As a group, sell-side analysts expect that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Thilo Schroeder purchased 1,304,347 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were bought at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the purchase, the director now directly owns 2,096,612 shares of the company’s stock, valued at approximately $96,444,152. This represents a 164.64 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jack Anders sold 2,635 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $119,629.00. Following the completion of the sale, the chief financial officer now owns 96,470 shares in the company, valued at $4,379,738. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,678 shares of company stock worth $847,981 in the last 90 days. Insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its position in Revolution Medicines by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock valued at $220,000 after acquiring an additional 270 shares in the last quarter. Captrust Financial Advisors lifted its position in Revolution Medicines by 4.1% in the 3rd quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after acquiring an additional 337 shares in the last quarter. KBC Group NV lifted its position in Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Revolution Medicines by 11.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock valued at $186,000 after acquiring an additional 434 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Revolution Medicines by 8.3% in the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company’s stock valued at $250,000 after acquiring an additional 435 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

About Revolution Medicines

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.