Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $64.00 at HC Wainwright

Revolution Medicines (NASDAQ:RVMD) had its price target increased by HC Wainwright from $62.00 to $64.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Revolution Medicines’ Q3 2024 earnings at ($0.89) EPS, Q4 2024 earnings at ($0.98) EPS, FY2024 earnings at ($3.38) EPS, Q1 2025 earnings at ($1.00) EPS, Q2 2025 earnings at ($1.02) EPS, Q3 2025 earnings at ($1.03) EPS, Q4 2025 earnings at ($1.05) EPS and FY2025 earnings at ($4.09) EPS.

A number of other analysts also recently issued reports on the company. Piper Sandler raised their price objective on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC lifted their price target on shares of Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush restated an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a report on Thursday, August 8th. Bank of America lifted 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. Finally, Guggenheim upped their price target on Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $61.00.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $60.44 on Thursday. The company has a market capitalization of $10.17 billion, a P/E ratio of -16.84 and a beta of 1.40. The company has a 50 day simple moving average of $47.56 and a 200-day simple moving average of $43.17. Revolution Medicines has a 1 year low of $18.79 and a 1 year high of $61.06.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period in the prior year, the business earned ($0.99) earnings per share. As a group, research analysts expect that Revolution Medicines will post -3.37 EPS for the current year.

Insiders Place Their Bets

In other news, insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the sale, the insider now directly owns 264,408 shares in the company, valued at approximately $13,085,551.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Mark A. Goldsmith sold 10,000 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at $13,486,638.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the sale, the insider now directly owns 264,408 shares in the company, valued at approximately $13,085,551.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,866 shares of company stock worth $6,355,624 over the last 90 days. Corporate insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after buying an additional 222 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after acquiring an additional 885 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Revolution Medicines in the 3rd quarter valued at about $93,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Revolution Medicines during the 1st quarter worth about $104,000. Finally, EntryPoint Capital LLC purchased a new stake in Revolution Medicines during the first quarter worth approximately $107,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

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.