Analysts’ Recent Ratings Updates for Revolution Medicines (RVMD)

Revolution Medicines (NASDAQ: RVMD) recently received a number of ratings updates from brokerages and research firms:

• 12/4/2024 – Revolution Medicines had its price target raised by analysts at HC Wainwright from $64.00 to $72.00. They now have a “buy” rating on the stock.
• 12/3/2024 – Revolution Medicines had its price target raised by analysts at JPMorgan Chase & Co. from $63.00 to $71.00. They now have an “overweight” rating on the stock.
• 12/3/2024 – Revolution Medicines had its price target raised by analysts at Guggenheim from $82.00 to $87.00. They now have a “buy” rating on the stock.
• 12/3/2024 – Revolution Medicines had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $68.00 price target on the stock.
• 12/2/2024 – Revolution Medicines had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $70.00 price target on the stock.
• 11/7/2024 – Revolution Medicines had its price target raised by analysts at JPMorgan Chase & Co. from $54.00 to $63.00. They now have an “overweight” rating on the stock.
• 11/7/2024 – Revolution Medicines had its price target raised by analysts at Piper Sandler from $57.00 to $70.00. They now have an “overweight” rating on the stock.
• 11/7/2024 – Revolution Medicines had its price target raised by analysts at HC Wainwright from $62.00 to $64.00. They now have a “buy” rating on the stock.
• 11/7/2024 – Revolution Medicines had its price target raised by analysts at Needham & Company LLC from $61.00 to $68.00. They now have a “buy” rating on the stock.
• 10/28/2024 – Revolution Medicines had its price target raised by analysts at Oppenheimer Holdings Inc. from $55.00 to $60.00. They now have an “outperform” rating on the stock.
• 10/28/2024 – Revolution Medicines had its price target raised by analysts at Guggenheim from $72.00 to $82.00. They now have a “buy” rating on the stock.
• 10/24/2024 – Revolution Medicines had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $61.00 price target on the stock.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $48.07 on Monday. Revolution Medicines, Inc. has a 1 year low of $23.51 and a 1 year high of $62.40. The business’s fifty day moving average is $52.36 and its 200-day moving average is $45.67. The stock has a market cap of $8.09 billion, a PE ratio of -13.39 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period in the previous year, the company posted ($0.99) EPS. Equities research analysts predict that Revolution Medicines, Inc. will post -3.51 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Jeff Cislini sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.17, for a total value of $301,020.00. Following the completion of the sale, the general counsel now owns 45,634 shares in the company, valued at approximately $2,289,457.78. This represents a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Michael Kelsey sold 16,666 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the transaction, the insider now directly owns 264,408 shares of the company’s stock, valued at $13,085,551.92. This represents a 5.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock worth $6,355,624 in the last ninety days. 8.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolution Medicines

Hedge funds and other institutional investors have recently modified their holdings of the business. Farallon Capital Management LLC lifted its stake in Revolution Medicines by 30.0% in the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock worth $378,696,000 after acquiring an additional 2,249,820 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Revolution Medicines by 32.3% in the 3rd quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock valued at $278,280,000 after purchasing an additional 1,497,026 shares during the period. FMR LLC lifted its position in shares of Revolution Medicines by 4.4% in the third quarter. FMR LLC now owns 5,875,893 shares of the company’s stock worth $266,472,000 after purchasing an additional 250,037 shares in the last quarter. State Street Corp boosted its holdings in shares of Revolution Medicines by 4.1% during the third quarter. State Street Corp now owns 5,279,584 shares of the company’s stock worth $239,429,000 after purchasing an additional 208,516 shares during the period. Finally, Geode Capital Management LLC grew its position in Revolution Medicines by 8.7% during the third quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company’s stock valued at $164,517,000 after purchasing an additional 291,369 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.