Revolution Medicines’ (RVMD) “Buy” Rating Reiterated at TD Cowen

TD Cowen reaffirmed their buy rating on shares of Revolution Medicines (NASDAQ:RVMD) in a research note published on Wednesday,Benzinga reports. TD Cowen currently has a $250.00 target price on the stock.

Other analysts have also recently issued reports about the stock. Wedbush lifted their target price on shares of Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Stifel Nicolaus boosted their price target on Revolution Medicines from $215.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Truist Financial increased their price target on Revolution Medicines from $240.00 to $241.00 and gave the stock a “buy” rating in a research note on Monday, October 19th. Evercore restated an “outperform” rating and set a $320.00 price objective on shares of Revolution Medicines in a report on Thursday, August 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $275.00 price objective on shares of Revolution Medicines in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.90.

Revolution Medicines Stock Down 0.4%

NASDAQ:RVMD opened at $186.99 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The company’s 50-day moving average is $201.70 and its two-hundred day moving average is $176.65. Revolution Medicines has a 12-month low of $53.67 and a 12-month high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period last year, the firm posted ($1.31) EPS. Research analysts expect that Revolution Medicines will post -8.94 EPS for the current fiscal year.

Insider Activity

In related news, insider Mark A. Goldsmith sold 13,988 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total value of $2,786,969.12. Following the completion of the sale, the insider directly owned 253,342 shares in the company, valued at approximately $50,475,860.08. This represents a 5.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 4,053 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total value of $807,519.72. Following the completion of the sale, the chief financial officer owned 119,216 shares of the company’s stock, valued at approximately $23,752,595.84. This represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 290,991 shares of company stock valued at $59,422,765 in the last 90 days. 7.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bluestem Financial Advisors LLC raised its stake in shares of Revolution Medicines by 4.8% in the 3rd quarter. Bluestem Financial Advisors LLC now owns 1,256 shares of the company’s stock valued at $258,000 after purchasing an additional 58 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Revolution Medicines by 8.7% during the third quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $166,000 after purchasing an additional 65 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Revolution Medicines by 37.0% during the third quarter. TD Waterhouse Canada Inc. now owns 370 shares of the company’s stock worth $76,000 after purchasing an additional 100 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in Revolution Medicines by 3.0% in the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after purchasing an additional 120 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Revolution Medicines by 147.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company’s research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.