Revolution Medicines (NASDAQ:RVMD) Given New $181.00 Price Target at Wedbush

Revolution Medicines (NASDAQ:RVMD) had its target price upped by stock analysts at Wedbush from $165.00 to $181.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential downside of 2.49% from the company’s current price.

RVMD has been the topic of a number of other research reports. Oppenheimer raised their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They set a “buy” rating on the stock. Sanford C. Bernstein started coverage on Revolution Medicines in a report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Truist Financial boosted their price target on Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $135.39.

Revolution Medicines Stock Down 1.0%

Shares of NASDAQ RVMD traded down $1.89 during trading hours on Thursday, hitting $185.62. The stock had a trading volume of 1,046,786 shares, compared to its average volume of 3,370,202. The firm’s 50-day moving average price is $154.24 and its two-hundred day moving average price is $119.29. Revolution Medicines has a 52 week low of $34.00 and a 52 week high of $193.10. The company has a market capitalization of $39.46 billion, a P/E ratio of -26.23 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last posted its 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 quarter in the previous year, the business posted ($1.13) EPS. Analysts anticipate that Revolution Medicines will post -7.94 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 4,175 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the transaction, the insider directly owned 291,876 shares in the company, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the transaction, the chief financial officer owned 123,269 shares in the company, valued at $20,749,870.77. This trade represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 252,497 shares of company stock worth $39,481,286 in the last quarter. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Revolution Medicines

A number of institutional investors have recently made changes to their positions in RVMD. Vanguard Group Inc. boosted its position in shares of Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after acquiring an additional 1,056,792 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Revolution Medicines by 194.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock worth $1,696,000 after acquiring an additional 14,062 shares during the period. Mass General Brigham Inc acquired a new position in Revolution Medicines during the 4th quarter valued at $27,407,000. Eagle Health Investments LP acquired a new position in Revolution Medicines during the 4th quarter valued at $9,231,000. Finally, M&T Bank Corp bought a new stake in Revolution Medicines in the 4th quarter valued at $52,723,000. 94.34% of the stock is currently owned by institutional investors.

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.