Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Consensus Rating of “Buy” from Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMDGet Rating) has earned a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $33.00.

Several research analysts have commented on the stock. HC Wainwright lifted their price objective on shares of Revolution Medicines from $38.00 to $40.00 in a research note on Tuesday, March 1st. Zacks Investment Research raised shares of Revolution Medicines from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Stifel Nicolaus upgraded Revolution Medicines from a “hold” rating to a “buy” rating and decreased their target price for the stock from $36.00 to $26.00 in a research report on Tuesday, March 1st.

RVMD stock opened at $23.93 on Wednesday. The firm has a fifty day moving average price of $21.86 and a 200 day moving average price of $24.95. Revolution Medicines has a fifty-two week low of $17.18 and a fifty-two week high of $43.49. The firm has a market cap of $1.78 billion, a PE ratio of -9.35 and a beta of 2.00.

Revolution Medicines (NASDAQ:RVMDGet Rating) last posted its quarterly earnings data on Monday, February 28th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.06). The firm had revenue of $9.46 million for the quarter, compared to analysts’ expectations of $8.20 million. Revolution Medicines had a negative return on equity of 28.26% and a negative net margin of 636.58%. During the same period in the previous year, the firm earned ($0.52) earnings per share. As a group, research analysts anticipate that Revolution Medicines will post -3.62 EPS for the current fiscal year.

In other Revolution Medicines news, Director Thilo Schroeder bought 42,000 shares of the firm’s stock in a transaction dated Friday, March 25th. The stock was acquired at an average cost of $24.79 per share, for a total transaction of $1,041,180.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have bought 1,272,079 shares of company stock valued at $31,810,981. Corporate insiders own 22.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. raised its holdings in shares of Revolution Medicines by 23.3% in the third quarter. First Mercantile Trust Co. now owns 1,853 shares of the company’s stock valued at $51,000 after acquiring an additional 350 shares in the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of Revolution Medicines by 9.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 6,746 shares of the company’s stock valued at $170,000 after acquiring an additional 596 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Revolution Medicines by 2.9% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 21,600 shares of the company’s stock valued at $559,000 after acquiring an additional 600 shares in the last quarter. Deutsche Bank AG grew its stake in Revolution Medicines by 1.0% in the fourth quarter. Deutsche Bank AG now owns 90,263 shares of the company’s stock valued at $2,272,000 after purchasing an additional 907 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Revolution Medicines during the fourth quarter valued at about $26,000. Hedge funds and other institutional investors own 95.87% of the company’s stock.

About Revolution Medicines (Get Rating)

Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.

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