JPMorgan Chase & Co. Increases Revolution Medicines (NASDAQ:RVMD) Price Target to $82.00

Revolution Medicines (NASDAQ:RVMD) had its price objective upped by analysts at JPMorgan Chase & Co. from $71.00 to $82.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 34.40% from the stock’s previous close.

A number of other analysts have also weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on Revolution Medicines from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Truist Financial initiated coverage on Revolution Medicines in a research note on Friday, September 5th. They set a “buy” rating and a $99.00 price objective for the company. National Bankshares set a $80.00 target price on Revolution Medicines in a research note on Friday, October 17th. Finally, Needham & Company LLC boosted their target price on shares of Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus price target of $78.71.

Revolution Medicines Trading Down 0.6%

NASDAQ RVMD opened at $61.01 on Thursday. Revolution Medicines has a one year low of $29.17 and a one year high of $63.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.79 and a current ratio of 8.05. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of -11.80 and a beta of 1.25. The company’s 50-day simple moving average is $48.63 and its two-hundred day simple moving average is $41.98.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same period in the previous year, the firm earned ($0.94) EPS. Equities analysts forecast that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Revolution Medicines news, COO Margaret A. Horn sold 4,775 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $218,790.50. Following the completion of the sale, the chief operating officer owned 145,900 shares of the company’s stock, valued at approximately $6,685,138. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jack Anders sold 2,320 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $106,302.40. Following the sale, the chief financial officer owned 110,994 shares in the company, valued at $5,085,745.08. The trade was a 2.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 188,033 shares of company stock valued at $8,456,208 in the last 90 days. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd purchased a new position in Revolution Medicines during the 2nd quarter worth approximately $3,639,000. Harbor Capital Advisors Inc. increased its stake in shares of Revolution Medicines by 64.7% in the second quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock worth $2,146,000 after acquiring an additional 22,906 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Revolution Medicines in the first quarter worth $502,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 purchasing an additional 6,877 shares during the last quarter. Finally, Atle Fund Management AB lifted its position in Revolution Medicines by 49.7% during the second quarter. Atle Fund Management AB now owns 82,275 shares of the company’s stock valued at $3,027,000 after purchasing an additional 27,314 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.