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

Revolution Medicines, Inc. (NASDAQ:RVMDGet Free Report) has received an average rating of “Buy” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $38.80.

A number of equities research analysts have issued reports on RVMD shares. UBS Group started coverage on shares of Revolution Medicines in a research report on Wednesday, December 20th. They issued a “buy” rating and a $40.00 price objective for the company. Wedbush increased their target price on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Raymond James increased their target price on shares of Revolution Medicines from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Bank of America raised shares of Revolution Medicines from a “neutral” rating to a “buy” rating and increased their target price for the company from $31.00 to $34.00 in a research report on Friday, January 5th. Finally, Piper Sandler started coverage on shares of Revolution Medicines in a research report on Monday, March 11th. They set an “overweight” rating and a $43.00 target price for the company.

Read Our Latest Stock Report on RVMD

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $31.68 on Tuesday. Revolution Medicines has a 52-week low of $15.44 and a 52-week high of $35.60. The company has a 50-day simple moving average of $30.12 and a two-hundred day simple moving average of $27.11. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of -8.40 and a beta of 1.53.

Revolution Medicines (NASDAQ:RVMDGet Free Report) last issued its quarterly earnings data on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The business had revenue of $0.74 million for the quarter, compared to analyst estimates of $1.20 million. During the same period last year, the firm earned ($0.63) earnings per share. The business’s quarterly revenue was down 95.2% compared to the same quarter last year. On average, sell-side analysts forecast that Revolution Medicines will post -3.17 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 1,261 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,822.38. Following the sale, the chief financial officer now directly owns 101,959 shares in the company, valued at approximately $3,219,865.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Revolution Medicines news, CFO Jack Anders sold 1,261 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total value of $39,822.38. Following the sale, the chief financial officer now directly owns 101,959 shares in the company, valued at approximately $3,219,865.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jeff Cislini sold 1,500 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $30.99, for a total transaction of $46,485.00. Following the completion of the sale, the general counsel now owns 54,374 shares in the company, valued at $1,685,050.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,887 shares of company stock worth $422,220. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Revolution Medicines

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Revolution Medicines by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock valued at $292,646,000 after buying an additional 282,786 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Revolution Medicines during the 3rd quarter valued at $2,644,000. Vanguard Group Inc. raised its position in shares of Revolution Medicines by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock valued at $266,935,000 after buying an additional 303,088 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Revolution Medicines by 392.5% during the 3rd quarter. Victory Capital Management Inc. now owns 342,359 shares of the company’s stock valued at $9,476,000 after buying an additional 272,848 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Revolution Medicines by 602.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 20,691 shares of the company’s stock valued at $573,000 after buying an additional 17,746 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

About Revolution Medicines

(Get Free Report

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.

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Analyst Recommendations for Revolution Medicines (NASDAQ:RVMD)

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