Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $78.94 Consensus PT from Analysts

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been given a consensus recommendation of “Buy” by the twenty research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a buy recommendation and four have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $78.9412.

RVMD has been the subject of several recent research reports. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Wolfe Research started coverage on shares of Revolution Medicines in a report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price objective for the company. Evercore upgraded shares of Revolution Medicines to a “strong-buy” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Thursday, January 22nd.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $100.56, for a total value of $7,542,000.00. Following the completion of the sale, the chief operating officer directly owned 141,053 shares in the company, valued at approximately $14,184,289.68. The trade was a 34.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Michael Kelsey sold 5,447 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total value of $418,438.54. Following the completion of the sale, the insider owned 278,600 shares of the company’s stock, valued at approximately $21,402,052. This trade represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 149,792 shares of company stock worth $14,379,040. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after buying an additional 1,056,792 shares in the last quarter. Farallon Capital Management LLC increased its holdings in Revolution Medicines by 2.1% in the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock valued at $683,020,000 after buying an additional 300,000 shares during the period. Janus Henderson Group PLC raised its stake in shares of Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after buying an additional 947,448 shares in the last quarter. Baker BROS. Advisors LP raised its stake in shares of Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after buying an additional 90,385 shares in the last quarter. Finally, Nextech Invest Ltd. lifted its holdings in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Down 1.2%

Shares of Revolution Medicines stock opened at $98.40 on Tuesday. The firm has a market cap of $19.50 billion, a price-to-earnings ratio of -16.65 and a beta of 0.99. The stock has a 50-day simple moving average of $101.08 and a 200-day simple moving average of $72.84. Revolution Medicines has a 52-week low of $29.17 and a 52-week high of $124.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.14 and a quick ratio of 7.14.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period in the previous year, the business posted ($1.12) earnings per share. On average, equities research analysts expect that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.