Revolution Medicines (NASDAQ:RVMD) Hits New 12-Month High After Analyst Upgrade

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price reached a new 52-week high during mid-day trading on Friday after Sanford C. Bernstein upgraded the stock to a hold rating. The stock traded as high as $156.25 and last traded at $155.2210, with a volume of 848835 shares traded. The stock had previously closed at $153.73.

Several other equities analysts have also recently weighed in on the company. Truist Financial began coverage on Revolution Medicines in a report on Monday, May 18th. They set a “buy” rating and a $179.00 price target for the company. Benchmark restated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Wedbush raised their price target on Revolution Medicines to $165.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. HC Wainwright restated a “buy” rating on shares of Revolution Medicines in a report on Wednesday, April 22nd. Finally, Guggenheim raised their price target on Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $111.35.

Insiders Place Their Bets

In other news, COO Margaret A. Horn sold 4,583 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $455,916.84. Following the completion of the sale, the chief operating officer directly owned 157,570 shares of the company’s stock, valued at $15,675,063.60. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark A. Goldsmith sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the sale, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 184,592 shares of company stock worth $24,499,532. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its stake in shares of Revolution Medicines by 1,002.8% in the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares during the last quarter. Indiana Trust & Investment Management Co bought a new stake in shares of Revolution Medicines in the 4th quarter valued at approximately $32,000. Torren Management LLC bought a new stake in shares of Revolution Medicines in the 4th quarter valued at approximately $33,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines in the 4th quarter valued at approximately $38,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Revolution Medicines in the 4th quarter valued at approximately $40,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Price Performance

The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $32.22 billion, a P/E ratio of -21.44 and a beta of 1.41. The firm has a 50 day moving average price of $123.75 and a 200-day moving average price of $101.21.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the previous year, the company earned ($1.13) earnings per share. On average, analysts expect that Revolution Medicines, Inc. will post -7.75 earnings per share for the current year.

About Revolution Medicines

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.