Revolution Medicines (NASDAQ:RVMD) Stock Lifted to Hold by Wall Street Zen

Wall Street Zen upgraded shares of Revolution Medicines (NASDAQ:RVMD) from a sell rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Other analysts also recently issued reports about the company. Sanford C. Bernstein boosted their price target on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a research note on Friday, August 21st. UBS Group increased their price objective on Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Evercore reissued an “outperform” rating and set a $320.00 target price on shares of Revolution Medicines in a report on Thursday, August 27th. HC Wainwright boosted their target price on shares of Revolution Medicines from $280.00 to $350.00 and gave the company a “buy” rating in a research report on Friday. Finally, Truist Financial restated a “buy” rating and issued a $261.00 price target (up from $241.00) on shares of Revolution Medicines in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $263.15.

Revolution Medicines Trading Up 8.2%

Revolution Medicines stock opened at $192.28 on Friday. The company has a market cap of $41.21 billion, a price-to-earnings ratio of -21.11 and a beta of 1.44. The firm has a 50-day moving average of $196.88 and a 200-day moving average of $157.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 8.36 and a quick ratio of 11.38. Revolution Medicines has a one year low of $58.91 and a one year high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($1.90) earnings per share for the quarter, topping the consensus estimate of ($2.35) by $0.45. The firm had revenue of $197.56 million for the quarter, compared to analyst estimates of $25.58 million. During the same quarter in the prior year, the firm earned ($1.61) earnings per share. On average, equities analysts expect that Revolution Medicines will post -7.88 earnings per share for the current fiscal year.

Insider Transactions at Revolution Medicines

In related news, insider Mark Goldsmith sold 80,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the sale, the insider directly owned 267,330 shares in the company, valued at $55,925,436. This trade represents a 23.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Kelsey sold 92,531 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $202.36, for a total transaction of $18,724,573.16. Following the completion of the sale, the insider directly owned 291,876 shares in the company, valued at approximately $59,064,027.36. This represents a 24.07% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 290,991 shares of company stock valued at $59,422,765. 7.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Revolution Medicines

Institutional investors have recently made changes to their positions in the stock. Alphabet Inc. acquired a new stake in shares of Revolution Medicines in the 2nd quarter worth about $551,843,000. Assenagon Asset Management S.A. boosted its stake in Revolution Medicines by 987.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company’s stock valued at $447,710,000 after purchasing an additional 1,980,699 shares during the last quarter. Bank of America Corp DE acquired a new position in Revolution Medicines during the 2nd quarter valued at about $184,267,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Revolution Medicines by 82.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 912,335 shares of the company’s stock worth $170,862,000 after purchasing an additional 411,740 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in Revolution Medicines during the 2nd quarter worth approximately $166,308,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

More Revolution Medicines News

Here are the key news stories impacting Revolution Medicines this week:

• Positive Sentiment: Strong early Rasonque sales: Revolution Medicines reported $197.6 million in third-quarter revenue, beating estimates, with Rasonque generating that amount in just five weeks after its U.S. launch. The company said more than 5,000 patients had been treated. The quarterly loss per share also came in narrower than analysts expected. Zacks article on Q3 results and Rasonque uptake
• Positive Sentiment: Analyst targets moved higher: HC Wainwright raised its target to $350 and maintained a Buy rating. RBC lifted its target to $321 with an Outperform rating; Guggenheim, Truist and TD Cowen also raised targets and retained positive ratings. These revisions signal optimism about the drug’s commercial potential and pipeline. HC Wainwright recommendations RBC target increase
• Neutral Sentiment: Long-term opportunity, but expectations are high: Rasonque’s clinical results and potential expansion into other solid tumors support the pipeline outlook. However, commentary noted that RVMD’s roughly $40 billion valuation already reflects substantial expectations, making sustained launch growth and upcoming clinical results important. Seeking Alpha analysis of Q3 results
• Negative Sentiment: Some long-range forecasts were cut: Brookline Capital Markets lowered its FY2029 EPS estimate to $8.49 from $8.94 and its FY2030 estimate to $17.41 from $18.15, though it kept a Buy rating and a $318 target.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a biotechnology company focused on developing targeted therapies for patients with RAS-driven cancers. Founded in 2014 and headquartered in Redwood City, California, the company’s research centers on RAS proteins, which can contribute to the growth of many cancers.

The company’s pipeline includes drug candidates designed to inhibit mutant RAS proteins, including daraxonrasib (RMC-6236), which targets multiple RAS variants, and candidates directed at specific KRAS mutations.