Revolution Medicines (NASDAQ:RVMD) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Revolution Medicines (NASDAQ:RVMD) had its target price hoisted by equities researchers at The Goldman Sachs Group from $65.00 to $73.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 56.82% from the stock’s current price.

Several other brokerages have also commented on RVMD. Wells Fargo & Company raised their price target on Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler began coverage on Revolution Medicines in a research note on Monday, August 18th. They set an “overweight” rating and a $75.00 price target on the stock. Lifesci Capital began coverage on Revolution Medicines in a research note on Monday, August 18th. They set an “outperform” rating and a $80.00 price target on the stock. Wedbush raised their price target on Revolution Medicines from $73.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Raymond James Financial began coverage on Revolution Medicines in a research report on Friday. They set a “strong-buy” rating and a $72.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus price target of $73.67.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $46.55 on Friday. The firm has a market cap of $8.70 billion, a P/E ratio of -10.34 and a beta of 1.12. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. Revolution Medicines has a 12 month low of $29.17 and a 12 month high of $62.40. The stock’s fifty day moving average price is $37.94 and its 200-day moving average price is $38.17.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly 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 quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.81) earnings per share. On average, equities research analysts expect that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jack Anders sold 5,238 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total transaction of $210,410.46. Following the sale, the chief financial officer owned 113,314 shares of the company’s stock, valued at $4,551,823.38. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors have recently added to or reduced their stakes in RVMD. Deutsche Bank AG boosted its holdings in Revolution Medicines by 57.8% in the fourth quarter. Deutsche Bank AG now owns 177,383 shares of the company’s stock worth $7,759,000 after acquiring an additional 64,997 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Revolution Medicines in the fourth quarter worth about $994,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Revolution Medicines by 13.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 102,127 shares of the company’s stock worth $4,463,000 after acquiring an additional 12,084 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Revolution Medicines by 3.1% in the fourth quarter. Nuveen Asset Management LLC now owns 473,728 shares of the company’s stock worth $20,721,000 after acquiring an additional 14,391 shares in the last quarter. Finally, Nextech Invest Ltd. boosted its holdings in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.