Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $123.72 Consensus Target Price from Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned an average rating of “Buy” from the twenty-two brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $123.7222.

Several research analysts have recently weighed in on RVMD shares. Oppenheimer boosted their price objective on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Guggenheim boosted their price objective on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Jefferies Financial Group started coverage on shares of Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating for the company. Finally, Royal Bank Of Canada boosted their price objective on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd.

Revolution Medicines Stock Up 0.8%

Shares of Revolution Medicines stock opened at $157.77 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a market capitalization of $33.54 billion, a PE ratio of -22.32 and a beta of 1.40. Revolution Medicines has a 52-week low of $34.00 and a 52-week high of $166.50. The company has a 50-day simple moving average of $144.38 and a two-hundred day simple moving average of $112.39.

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 the consensus estimate of ($1.83) by ($0.46). During the same period last year, the firm earned ($1.13) EPS. On average, analysts anticipate that Revolution Medicines will post -7.94 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In other news, COO Margaret A. Horn sold 60,400 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the completion of the transaction, the chief operating officer directly owned 158,222 shares of the company’s stock, valued at $25,342,417.74. The trade was a 27.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the transaction, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 210,000 shares of company stock valued at $32,424,620 over the last three months. 7.60% of the stock is owned by corporate insiders.

Institutional Trading of Revolution Medicines

Several large investors have recently added to or reduced their stakes in the business. Meeder Advisory Services Inc. grew its position in Revolution Medicines by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after buying an additional 120 shares during the period. PNC Financial Services Group Inc. grew its position in Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after buying an additional 125 shares during the period. Deutsche Bank AG boosted its position in shares of Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after purchasing an additional 130 shares during the period. Signaturefd LLC boosted its position in shares of Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after purchasing an additional 163 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after purchasing an additional 210 shares during the period. 94.34% of the stock is currently owned by institutional investors.

About Revolution Medicines

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.