Revolution Medicines (NASDAQ:RVMD) Coverage Initiated at Raymond James Financial

Stock analysts at Raymond James Financial assumed coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a report released on Friday, MarketBeat.com reports. The firm set a “strong-buy” rating and a $72.00 price target on the stock. Raymond James Financial’s price objective points to a potential upside of 54.67% from the stock’s previous close.

Several other research firms also recently issued reports on RVMD. Piper Sandler began coverage on Revolution Medicines in a research note on Monday, August 18th. They issued an “overweight” rating and a $75.00 price objective for the company. Wells Fargo & Company upped their price objective on Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC upped their price objective on Revolution Medicines from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group began coverage on Revolution Medicines in a research note on Tuesday, July 15th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, Lifesci Capital began coverage on Revolution Medicines in a research note on Monday, August 18th. They issued an “outperform” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and a consensus price target of $73.67.

Revolution Medicines Stock Up 0.7%

Shares of NASDAQ RVMD opened at $46.55 on Friday. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The company has a market cap of $8.70 billion, a price-to-earnings 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 stock has a 50-day moving average price of $37.94 and a two-hundred day moving average price of $38.17.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.37). The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.81) earnings per share. As a group, analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Revolution Medicines

Several institutional investors have recently added to or reduced their stakes in RVMD. CWM LLC boosted its holdings in shares of Revolution Medicines by 171.3% during the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after buying an additional 579 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of Revolution Medicines during the 1st quarter worth approximately $42,000. Quarry LP bought a new position in shares of Revolution Medicines during the 1st quarter worth approximately $50,000. Twin Tree Management LP bought a new position in shares of Revolution Medicines during the 1st quarter worth approximately $58,000. Finally, a16z Perennial Management L.P. bought a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $67,000. 94.34% of the stock is currently owned by institutional investors.

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.