Wedbush Issues Pessimistic Estimate for RVMD Earnings

Revolution Medicines, Inc. (NASDAQ:RVMD) – Investment analysts at Wedbush dropped their FY2029 earnings estimates for Revolution Medicines in a report released on Thursday, September 11th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings of $1.23 per share for the year, down from their prior forecast of $1.47. Wedbush currently has a “Outperform” rating and a $77.00 target price on the stock. The consensus estimate for Revolution Medicines’ current full-year earnings is ($3.49) per share.

RVMD has been the topic of several other reports. Truist Financial assumed coverage on shares of Revolution Medicines in a research report on Friday, September 5th. They issued a “buy” rating and a $99.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler assumed coverage on shares of Revolution Medicines in a report on Monday, August 18th. They issued an “overweight” rating and a $75.00 target price for the company. Guggenheim restated a “buy” rating and issued a $80.00 target price on shares of Revolution Medicines in a report on Wednesday, June 25th. Finally, The Goldman Sachs Group boosted their target price on shares of Revolution Medicines from $65.00 to $73.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $73.67.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $46.55 on Friday. The company has a market cap of $8.70 billion, a PE ratio of -10.34 and a beta of 1.12. Revolution Medicines has a 12 month low of $29.17 and a 12 month high of $62.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79. The company has a 50-day simple moving average of $37.94 and a 200-day simple moving average of $38.19.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.37). The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the firm posted ($0.81) EPS.

Insiders Place Their Bets

In other Revolution Medicines news, CFO Jack Anders sold 5,238 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total transaction of $210,410.46. Following the transaction, the chief financial officer directly owned 113,314 shares of the company’s stock, valued at $4,551,823.38. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Revolution Medicines by 8.9% during the first quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company’s stock valued at $416,821,000 after buying an additional 966,230 shares in the last quarter. Nextech Invest Ltd. lifted its position in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. BVF Inc. IL lifted its position in shares of Revolution Medicines by 19.2% during the first quarter. BVF Inc. IL now owns 4,982,384 shares of the company’s stock worth $176,177,000 after purchasing an additional 801,205 shares in the last quarter. Bellevue Group AG lifted its position in shares of Revolution Medicines by 4.7% during the second quarter. Bellevue Group AG now owns 4,579,300 shares of the company’s stock worth $168,472,000 after purchasing an additional 205,000 shares in the last quarter. Finally, Woodline Partners LP lifted its position in shares of Revolution Medicines by 13.2% during the fourth quarter. Woodline Partners LP now owns 3,885,713 shares of the company’s stock worth $169,961,000 after purchasing an additional 452,000 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

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.