Revolution Medicines (NASDAQ:RVMD) Receives “Buy” Rating from HC Wainwright

Revolution Medicines (NASDAQ:RVMD)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $195.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 2.27% from the stock’s current price.

A number of other brokerages also recently commented on RVMD. Sanford C. Bernstein assumed coverage on Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective for the company. Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Guggenheim raised their target price on shares of Revolution Medicines to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Wedbush raised their price objective on shares of Revolution Medicines from $165.00 to $181.00 and gave the stock an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $142.33.

Revolution Medicines Stock Performance

RVMD opened at $190.68 on Monday. The business has a 50 day moving average price of $156.00 and a two-hundred day moving average price of $120.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The company has a market capitalization of $40.54 billion, a price-to-earnings ratio of -26.89 and a beta of 1.37. Revolution Medicines has a 1-year low of $34.00 and a 1-year high of $193.10.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the prior year, the company earned ($1.13) earnings per share. Research analysts predict 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 business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the transaction, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the transaction, the chief financial officer owned 123,269 shares in the company, valued at approximately $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 252,497 shares of company stock valued at $39,481,286 in the last 90 days. Corporate insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

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

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.