Revolution Medicines (NASDAQ:RVMD) Given New $236.00 Price Target at Needham & Company LLC

Revolution Medicines (NASDAQ:RVMD) had its target price increased by Needham & Company LLC from $235.00 to $236.00 in a report published on Monday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

RVMD has been the subject of several other reports. Oppenheimer increased their price objective on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Royal Bank Of Canada boosted their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Evercore restated an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Truist Financial upped their target price on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Revolution Medicines presently has an average rating of “Moderate Buy” and an average price target of $144.06.

Revolution Medicines Stock Down 3.1%

NASDAQ RVMD opened at $180.39 on Monday. Revolution Medicines has a 1-year low of $34.00 and a 1-year high of $193.82. The company has a market capitalization of $38.35 billion, a price-to-earnings ratio of -25.51 and a beta of 1.37. The stock’s 50 day moving average is $165.80 and its two-hundred day moving average is $129.09. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period last year, the business earned ($1.13) earnings per share. Equities analysts forecast that Revolution Medicines will post -7.92 earnings per share for the current fiscal year.

Insider Activity

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the transaction, the director owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Margaret A. Horn sold 29,600 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total value of $4,739,552.00. Following the sale, the chief operating officer owned 154,647 shares in the company, valued at $24,762,077.64. The trade was a 16.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $195,568,000. Avoro Capital Advisors LLC bought a new position in Revolution Medicines in the 4th quarter worth approximately $172,840,000. UBS Group AG lifted its holdings in Revolution Medicines by 183.6% during the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock worth $245,954,000 after buying an additional 1,998,972 shares in the last quarter. Polar Capital Holdings Plc lifted its holdings in Revolution Medicines by 321.2% during the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after buying an additional 1,535,686 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in Revolution Medicines by 197.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,205,555 shares of the company’s stock valued at $175,672,000 after buying an additional 1,463,155 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.