Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $78.94 Average Target Price from Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned a consensus rating of “Buy” from the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, thirteen have given a buy rating and four have given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $78.9412.

RVMD has been the subject of several research analyst reports. Needham & Company LLC increased their price objective on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Wolfe Research started coverage on shares of Revolution Medicines in a report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price target for the company. National Bankshares set a $80.00 price objective on shares of Revolution Medicines in a research note on Friday, October 17th. JPMorgan Chase & Co. raised their target price on Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, HC Wainwright boosted their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, November 6th.

Revolution Medicines Trading Up 1.4%

Shares of NASDAQ:RVMD opened at $97.49 on Friday. The business’s 50-day moving average is $92.51 and its 200 day moving average is $64.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. Revolution Medicines has a 1 year low of $29.17 and a 1 year high of $124.49. The firm has a market capitalization of $18.85 billion, a P/E ratio of -18.86 and a beta of 1.01.

Insider Transactions at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 5,447 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total value of $418,438.54. Following the transaction, the insider owned 278,600 shares in the company, valued at approximately $21,402,052. This represents a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 15,394 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $1,182,567.08. Following the transaction, the insider directly owned 232,469 shares of the company’s stock, valued at $17,858,268.58. This represents a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 213,792 shares of company stock worth $17,948,440 in the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds have recently added to or reduced their stakes in RVMD. Vanguard Group Inc. raised its stake in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after buying an additional 1,056,792 shares during the last quarter. Farallon Capital Management LLC grew its holdings in Revolution Medicines by 2.1% during the third quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock worth $683,020,000 after acquiring an additional 300,000 shares during the period. Baker BROS. Advisors LP raised its position in Revolution Medicines by 1.0% during the third quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after acquiring an additional 90,385 shares in the last quarter. Nextech Invest Ltd. lifted 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 valued at $332,472,000 after acquiring an additional 1,304,347 shares during the period. Finally, Paradigm Biocapital Advisors LP boosted its position in Revolution Medicines by 2.1% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock worth $290,628,000 after purchasing an additional 130,000 shares in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

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.