Revolution Medicines (NASDAQ:RVMD) Research Coverage Started at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a report released on Monday morning, Marketbeat.com reports. The firm issued an outperform rating and a $77.00 price objective on the stock.

Several other equities research analysts have also weighed in on the company. Lifesci Capital began coverage on Revolution Medicines in a research report on Monday, August 18th. They set an “outperform” rating and a $80.00 target price on the stock. Raymond James Financial upped their price target on Revolution Medicines from $72.00 to $76.00 and gave the company a “strong-buy” rating in a report on Friday, October 17th. Wells Fargo & Company raised their price objective on shares of Revolution Medicines from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. The Goldman Sachs Group boosted their price objective on shares of Revolution Medicines from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Stifel Nicolaus initiated coverage on shares of Revolution Medicines in a report on Wednesday, October 15th. They issued a “buy” rating and a $85.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $77.47.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $59.34 on Monday. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $47.71 and a 200-day simple moving average of $41.67. The stock has a market cap of $11.09 billion, a P/E ratio of -13.19 and a beta of 1.25. Revolution Medicines has a 12-month low of $29.17 and a 12-month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same quarter in the prior year, the business posted ($0.94) earnings per share. Equities analysts expect that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other news, COO Margaret A. Horn sold 4,775 shares of Revolution Medicines stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $218,790.50. Following the transaction, the chief operating officer directly owned 145,900 shares of the company’s stock, valued at $6,685,138. The trade was a 3.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark A. Goldsmith sold 13,411 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $614,492.02. Following the sale, the insider owned 452,309 shares of the company’s stock, valued at approximately $20,724,798.38. This represents a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 188,033 shares of company stock valued at $8,456,208. 8.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in RVMD. Y Intercept Hong Kong Ltd acquired a new position in Revolution Medicines during the second quarter worth approximately $3,639,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Revolution Medicines by 11.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company’s stock worth $232,000 after buying an additional 615 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Revolution Medicines by 64.7% in the second quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock valued at $2,146,000 after acquiring an additional 22,906 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Revolution Medicines during the first quarter valued at about $502,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Revolution Medicines by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company’s stock worth $3,870,000 after acquiring an additional 6,877 shares during the last quarter. 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.