Revolution Medicines (NASDAQ:RVMD) Earns Buy Rating from Truist Financial

Revolution Medicines (NASDAQ:RVMD)‘s stock had its “buy” rating reaffirmed by stock analysts at Truist Financial in a report issued on Thursday, Benzinga reports. They presently have a $261.00 target price on the stock, up from their prior target price of $241.00. Truist Financial‘s target price suggests a potential upside of 37.48% from the company’s current price.

Several other research firms have also recently weighed in on RVMD. Wolfe Research reiterated an “outperform” rating and set a $220.00 price objective on shares of Revolution Medicines in a report on Monday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $275.00 target price on shares of Revolution Medicines in a report on Thursday, October 15th. UBS Group boosted their target price on shares of Revolution Medicines from $220.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Wedbush upped their target price on Revolution Medicines from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Finally, Evercore reiterated an “outperform” rating and set a $320.00 price target on shares of Revolution Medicines in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Revolution Medicines has a consensus rating of “Moderate Buy” and a consensus target price of $244.95.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock traded down $9.85 during mid-day trading on Thursday, reaching $189.85. 2,295,281 shares of the stock were exchanged, compared to its average volume of 2,779,812. The company has a market cap of $40.69 billion, a price-to-earnings ratio of -21.41 and a beta of 1.44. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines has a fifty-two week low of $58.91 and a fifty-two week high of $224.31. The firm has a 50-day simple moving average of $198.21 and a 200 day simple moving average of $156.90.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($1.90) EPS for the quarter, beating the consensus estimate of ($2.35) by $0.45. The company had revenue of $197.56 million for the quarter, compared to the consensus estimate of $25.58 million. During the same period last year, the company earned ($1.61) earnings per share. On average, sell-side analysts predict that Revolution Medicines will post -8.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jack Anders sold 4,053 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $807,519.72. Following the completion of the sale, the chief financial officer owned 119,216 shares in the company, valued at $23,752,595.84. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 13,988 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $2,786,969.12. Following the sale, the insider directly owned 253,342 shares of the company’s stock, valued at approximately $50,475,860.08. The trade was a 5.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 290,991 shares of company stock valued at $59,422,765 in the last 90 days. Company insiders own 7.60% of the company’s stock.

Institutional Trading of Revolution Medicines

Several institutional investors have recently made changes to their positions in RVMD. Burkett Financial Services LLC purchased a new stake in shares of Revolution Medicines during the 3rd quarter valued at $27,000. Contravisory Investment Management Inc. bought a new position in Revolution Medicines in the 2nd quarter worth about $32,000. ABS Investment Management LLC purchased a new position in Revolution Medicines during the 2nd quarter valued at about $337,104,000. Johnson Financial Group Inc. bought a new stake in shares of Revolution Medicines during the second quarter valued at about $37,000. Finally, Mather Group LLC. bought a new position in Revolution Medicines in the 3rd quarter valued at $41,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company’s research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.