Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $236.00

Revolution Medicines (NASDAQ:RVMD) had its price objective increased by Needham & Company LLC from $235.00 to $236.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on RVMD. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Truist Financial increased their target price on Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Sanford C. Bernstein initiated coverage on Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target on the stock. Oppenheimer boosted their price target on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Wedbush boosted their price target on Revolution Medicines from $165.00 to $181.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.06.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $183.03 on Monday. The company’s 50 day moving average price is $167.21 and its two-hundred day moving average price is $130.55. Revolution Medicines has a 12-month low of $34.00 and a 12-month high of $193.82. The firm has a market cap of $38.91 billion, a PE ratio of -25.89 and a beta of 1.37. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the prior year, the company earned ($1.13) EPS. Equities research analysts predict that Revolution Medicines will post -7.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Margaret A. Horn sold 29,600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the sale, the chief operating officer directly owned 154,647 shares in the company, valued at approximately $24,762,077.64. This trade represents a 16.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 10,020 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the completion of the transaction, the insider owned 267,330 shares of the company’s stock, valued at $41,735,559.60. This represents a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 132,497 shares of company stock valued at $21,470,486 over the last ninety days. 7.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds have recently added to or reduced their stakes in RVMD. Indiana Trust & Investment Management Co bought a new position in shares of Revolution Medicines during the fourth quarter valued at $32,000. Contravisory Investment Management Inc. bought a new stake in shares of Revolution Medicines in the second quarter worth $32,000. Global Retirement Partners LLC increased its holdings in Revolution Medicines by 1,002.8% in the fourth 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 period. Torren Management LLC acquired a new stake in Revolution Medicines in the fourth quarter valued at $33,000. Finally, Arax Advisory Partners bought a new position in Revolution Medicines during the 4th quarter worth $38,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.