Equities Analysts Offer Predictions for RVMD FY2024 Earnings

Revolution Medicines, Inc. (NASDAQ:RVMD) – Wedbush lowered their FY2024 earnings per share estimates for Revolution Medicines in a research report issued on Thursday, November 7th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings per share of ($3.43) for the year, down from their prior estimate of ($3.41). Wedbush has a “Outperform” rating and a $59.00 price objective on the stock. The consensus estimate for Revolution Medicines’ current full-year earnings is ($3.42) per share. Wedbush also issued estimates for Revolution Medicines’ Q4 2024 earnings at ($0.98) EPS, Q1 2025 earnings at ($0.98) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($1.04) EPS, Q4 2025 earnings at ($1.07) EPS, FY2025 earnings at ($4.10) EPS, FY2026 earnings at ($4.33) EPS, FY2027 earnings at ($4.20) EPS and FY2028 earnings at ($2.43) EPS.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter last year, the company posted ($0.99) EPS.

A number of other research firms also recently issued reports on RVMD. Needham & Company LLC lifted their price target on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday. Guggenheim raised their target price on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, October 28th. Piper Sandler upped their price target on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer raised their price objective on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Revolution Medicines from $54.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $61.00.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $60.44 on Monday. Revolution Medicines has a 1 year low of $18.79 and a 1 year high of $61.06. The stock has a market capitalization of $10.17 billion, a P/E ratio of -16.84 and a beta of 1.40. The company has a 50-day moving average price of $47.56 and a 200-day moving average price of $43.22.

Insider Buying and Selling at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.36, for a total value of $1,510,800.00. Following the transaction, the insider now owns 300,170 shares in the company, valued at approximately $15,116,561.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Mark A. Goldsmith sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total value of $449,300.00. Following the transaction, the insider now owns 300,170 shares in the company, valued at approximately $13,486,638.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark A. Goldsmith sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.36, for a total value of $1,510,800.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at approximately $15,116,561.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,866 shares of company stock worth $6,355,624 over the last three months. 8.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC bought a new stake in Revolution Medicines during the 3rd quarter valued at $1,709,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Revolution Medicines during the 3rd quarter valued at $1,220,000. CIBC Asset Management Inc bought a new stake in Revolution Medicines during the 3rd quarter valued at $216,000. KBC Group NV raised its holdings in Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Revolution Medicines by 65.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 32,127 shares of the company’s stock valued at $1,457,000 after acquiring an additional 12,744 shares during the period. Institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

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.