Revolution Medicines (RVMD) Set to Announce Quarterly Earnings on Wednesday

Revolution Medicines (NASDAQ:RVMD) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, August 7th. Analysts expect Revolution Medicines to post earnings of ($0.77) per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.05. During the same period in the previous year, the firm earned ($0.72) EPS. The firm’s revenue was down 100.0% on a year-over-year basis. On average, analysts expect Revolution Medicines to post $-3 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD traded up $1.36 during trading on Tuesday, hitting $43.84. 341,430 shares of the company were exchanged, compared to its average volume of 1,428,279. The company has a fifty day moving average price of $41.34 and a 200-day moving average price of $35.90. The firm has a market capitalization of $7.23 billion, a PE ratio of -11.54 and a beta of 1.44. Revolution Medicines has a 12-month low of $15.44 and a 12-month high of $48.61.

Analysts Set New Price Targets

A number of research analysts recently commented on RVMD shares. Barclays increased their target price on shares of Revolution Medicines from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Oppenheimer raised their target price on Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. HC Wainwright boosted their target price on Revolution Medicines from $44.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Jefferies Financial Group began coverage on shares of Revolution Medicines in a research note on Monday, July 8th. They set a “buy” rating and a $63.00 price objective for the company. Finally, Bank of America upped their target price on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Revolution Medicines has an average rating of “Buy” and a consensus target price of $50.67.

Insider Transactions at Revolution Medicines

In other news, General Counsel Jeff Cislini sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total value of $76,940.00. Following the completion of the sale, the general counsel now directly owns 49,487 shares in the company, valued at $1,903,764.89. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, General Counsel Jeff Cislini sold 2,000 shares of Revolution Medicines stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total transaction of $76,940.00. Following the transaction, the general counsel now directly owns 49,487 shares of the company’s stock, valued at $1,903,764.89. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sushil Patel sold 2,155 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $44.00, for a total value of $94,820.00. Following the transaction, the director now owns 19,948 shares of the company’s stock, valued at approximately $877,712. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,421 shares of company stock valued at $2,637,077. Corporate insiders own 8.00% of the company’s stock.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.