Revolution Medicines (NASDAQ:RVMD) Given New $72.00 Price Target at Needham & Company LLC

Revolution Medicines (NASDAQ:RVMD) had its target price hoisted by Needham & Company LLC from $66.00 to $72.00 in a research report report published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on RVMD. Piper Sandler started coverage on Revolution Medicines in a research report on Monday, August 18th. They set an “overweight” rating and a $75.00 price objective on the stock. Truist Financial initiated coverage on Revolution Medicines in a report on Friday, September 5th. They set a “buy” rating and a $99.00 price target on the stock. Stifel Nicolaus initiated coverage on Revolution Medicines in a research report on Wednesday, October 15th. They issued a “buy” rating and a $85.00 price target for the company. Raymond James Financial boosted their price objective on shares of Revolution Medicines from $72.00 to $76.00 and gave the company a “strong-buy” rating in a research report on Friday, October 17th. Finally, Mizuho initiated coverage on shares of Revolution Medicines in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $90.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $78.71.

Revolution Medicines Price Performance

Revolution Medicines stock traded down $0.37 during mid-day trading on Thursday, reaching $61.01. 2,723,583 shares of the company’s stock traded hands, compared to its average volume of 2,291,172. Revolution Medicines has a 12-month low of $29.17 and a 12-month high of $63.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 11.79. The stock has a 50 day moving average of $48.17 and a two-hundred day moving average of $41.81.

Revolution Medicines (NASDAQ:RVMD) last posted its 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 period in the previous year, the company posted ($0.94) EPS. As a group, equities research analysts predict that Revolution Medicines will post -3.49 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, COO Margaret A. Horn sold 4,775 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $218,790.50. Following the transaction, the chief operating officer directly owned 145,900 shares in the company, valued at approximately $6,685,138. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lin Wei sold 2,160 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $98,971.20. Following the completion of the transaction, the insider directly owned 88,339 shares of the company’s stock, valued at approximately $4,047,692.98. The trade was a 2.39% decrease in their ownership of the stock. 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 corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of Revolution Medicines by 171.3% in the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock valued at $34,000 after purchasing an additional 579 shares during the period. GAMMA Investing LLC increased its holdings in Revolution Medicines by 45.1% in the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after buying an additional 260 shares in the last quarter. Banque Transatlantique SA purchased a new position in Revolution Medicines in the first quarter valued at $42,000. Quarry LP acquired a new position in shares of Revolution Medicines in the first quarter worth about $50,000. Finally, Twin Tree Management LP purchased a new stake in shares of Revolution Medicines during the 1st quarter worth about $58,000. 94.34% of the stock is currently 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.