Analysts Set Revolution Medicines, Inc. (NASDAQ:RVMD) PT at $61.00

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been given a consensus rating of “Buy” by the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $61.00.

Several equities research analysts recently commented on the company. Needham & Company LLC increased their price objective on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Oppenheimer raised their target price on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Wedbush reiterated an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 8th. Guggenheim upped their target price on shares of Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Barclays boosted their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th.

Revolution Medicines Stock Down 3.9 %

Shares of RVMD stock opened at $55.13 on Wednesday. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of -15.63 and a beta of 1.40. The business’s fifty day moving average is $48.87 and its 200 day moving average is $43.81. Revolution Medicines has a twelve month low of $20.51 and a twelve month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the previous year, the firm earned ($0.99) earnings per share. Equities research analysts expect that Revolution Medicines will post -3.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the completion of the sale, the director now owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This represents a 28.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the sale, the insider now directly owns 300,170 shares in the company, valued at approximately $13,486,638.10. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,866 shares of company stock valued at $6,355,624 over the last three months. 8.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after buying an additional 222 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after buying an additional 320 shares during the period. Captrust Financial Advisors grew its holdings in shares of Revolution Medicines by 4.1% during the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after buying an additional 337 shares during the last quarter. Amalgamated Bank raised its stake in Revolution Medicines by 7.4% in the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after acquiring an additional 365 shares during the last quarter. Finally, KBC Group NV lifted its position in Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after acquiring an additional 368 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

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.