Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $68.00 at Needham & Company LLC

Revolution Medicines (NASDAQ:RVMD) had its price target raised by Needham & Company LLC from $61.00 to $68.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on RVMD. Piper Sandler boosted their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday. Guggenheim increased their price target on Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Bank of America lifted their price objective on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Barclays increased their target price on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. boosted their price target on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $61.00.

Revolution Medicines Trading Up 2.3 %

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

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the prior year, the business earned ($0.99) earnings per share. As a group, sell-side analysts forecast that Revolution Medicines will post -3.42 EPS for the current year.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the sale, the insider now owns 300,170 shares in the company, valued at $13,486,638.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Stephen Michael Kelsey sold 16,666 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $49.49, for a total transaction of $824,800.34. Following the sale, the insider now directly owns 264,408 shares in the company, valued at approximately $13,085,551.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark A. Goldsmith sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the transaction, the insider now directly owns 300,170 shares of the company’s stock, valued at $13,486,638.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,866 shares of company stock worth $6,355,624 in the last three months. 8.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

A number of institutional investors have recently added to or reduced their stakes in RVMD. GAMMA Investing LLC raised its position in shares of Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after acquiring an additional 222 shares during the last quarter. Headlands Technologies LLC lifted its position in shares of Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the period. Values First Advisors Inc. bought a new stake in shares of Revolution Medicines in the 3rd quarter valued at $93,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Revolution Medicines during the first quarter worth $104,000. Finally, KBC Group NV raised its stake in Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Company Profile

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.