Revolution Medicines (NASDAQ:RVMD) Issues Quarterly Earnings Results

Revolution Medicines (NASDAQ:RVMD) issued its quarterly earnings data on Wednesday. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05), Briefing.com reports. During the same period last year, the firm posted ($0.99) EPS.

Revolution Medicines Price Performance

Shares of RVMD stock traded down $0.32 during trading hours on Thursday, reaching $59.10. 1,980,809 shares of the company’s stock were exchanged, compared to its average volume of 1,335,571. The company’s 50 day moving average is $46.86 and its two-hundred day moving average is $42.89. The company has a market cap of $9.87 billion, a P/E ratio of -16.39 and a beta of 1.40. Revolution Medicines has a 1 year low of $18.79 and a 1 year high of $60.53.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several research analyst reports. Guggenheim upped their price objective on shares of Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Barclays raised their price target on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. HC Wainwright boosted their price objective on Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America raised their target price on shares of Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $59.00 price target on shares of Revolution Medicines in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and a consensus target price of $61.00.

Insiders Place Their Bets

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the sale, the insider now directly owns 300,170 shares in the company, valued at approximately $13,486,638.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Mark A. Goldsmith sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total value of $449,300.00. Following the sale, the insider now owns 300,170 shares in the company, valued at $13,486,638.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Barbara Weber sold 5,200 shares of Revolution Medicines stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total value of $249,704.00. Following the transaction, the director now directly owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,866 shares of company stock worth $6,355,624. 8.00% of the stock is owned by corporate insiders.

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.