Revolution Medicines, Inc. (NASDAQ:RVMD) Given Average Recommendation of “Buy” by Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMDGet Free Report) has earned a consensus rating of “Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $43.20.

RVMD has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $44.00 target price on shares of Revolution Medicines in a research note on Monday, May 13th. Wedbush raised their target price on shares of Revolution Medicines from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $36.00 to $48.00 in a research note on Wednesday, April 10th. Piper Sandler began coverage on shares of Revolution Medicines in a research note on Monday, March 11th. They issued an “overweight” rating and a $43.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $46.00 price objective on shares of Revolution Medicines in a research note on Thursday, May 9th.

Read Our Latest Research Report on RVMD

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $37.54 on Friday. Revolution Medicines has a 1 year low of $15.44 and a 1 year high of $41.21. The company has a market capitalization of $6.19 billion, a P/E ratio of -10.01 and a beta of 1.45. The company’s fifty day moving average is $38.10 and its two-hundred day moving average is $32.29.

Revolution Medicines (NASDAQ:RVMDGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.05. During the same quarter last year, the firm posted ($0.72) earnings per share. The company’s revenue for the quarter was down 100.0% on a year-over-year basis. As a group, equities analysts expect that Revolution Medicines will post -3.12 earnings per share for the current year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, General Counsel Jeff Cislini sold 1,500 shares of Revolution Medicines stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $30.99, for a total transaction of $46,485.00. Following the completion of the transaction, the general counsel now owns 54,374 shares in the company, valued at $1,685,050.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Revolution Medicines news, General Counsel Jeff Cislini sold 1,500 shares of Revolution Medicines stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $30.99, for a total transaction of $46,485.00. Following the completion of the transaction, the general counsel now owns 54,374 shares in the company, valued at $1,685,050.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total transaction of $79,735.00. Following the transaction, the director now owns 15,700 shares of the company’s stock, valued at approximately $580,900. The disclosure for this sale can be found here. Insiders sold 21,155 shares of company stock worth $792,620 over the last 90 days. Company insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. Amalgamated Bank grew its holdings in shares of Revolution Medicines by 5.3% during the third quarter. Amalgamated Bank now owns 15,587 shares of the company’s stock worth $431,000 after buying an additional 787 shares in the last quarter. Swiss National Bank grew its holdings in shares of Revolution Medicines by 1.1% during the third quarter. Swiss National Bank now owns 163,600 shares of the company’s stock worth $4,528,000 after buying an additional 1,800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Revolution Medicines by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 766,669 shares of the company’s stock worth $21,221,000 after buying an additional 55,558 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Revolution Medicines during the third quarter worth about $297,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Revolution Medicines during the third quarter worth about $519,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Company Profile

(Get Free Report

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.

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Analyst Recommendations for Revolution Medicines (NASDAQ:RVMD)

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