Analysts Set Revolution Medicines, Inc. (NASDAQ:RVMD) Target Price at $65.82

Revolution Medicines, Inc. (NASDAQ:RVMD) has received a consensus recommendation of “Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $65.82.

Several analysts have commented on RVMD shares. Wedbush reissued an “outperform” rating and issued a $70.00 price objective on shares of Revolution Medicines in a report on Monday, December 2nd. HC Wainwright boosted their target price on shares of Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Piper Sandler lifted their target price on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Barclays boosted their target price on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 30,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the sale, the insider now directly owns 300,170 shares in the company, valued at approximately $15,116,561.20. The trade was a 9.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jack Anders sold 2,635 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the sale, the chief financial officer now owns 96,470 shares of the company’s stock, valued at approximately $4,379,738. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,344 shares of company stock worth $6,504,602. 8.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after buying an additional 222 shares in the last quarter. Quarry LP acquired a new position in Revolution Medicines in the 3rd quarter worth $82,000. Values First Advisors Inc. acquired a new stake in shares of Revolution Medicines during the third quarter worth approximately $93,000. KBC Group NV raised its stake in Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after buying an additional 368 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Revolution Medicines during the 4th quarter valued at about $203,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Price Performance

Shares of RVMD stock opened at $43.84 on Thursday. Revolution Medicines has a 1 year low of $25.93 and a 1 year high of $62.40. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of -12.21 and a beta of 1.46. The business has a fifty day moving average of $50.87 and a 200 day moving average of $46.52.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the previous year, the firm posted ($0.99) earnings per share. As a group, equities research analysts expect that Revolution Medicines will post -3.5 earnings per share for the current year.

Revolution Medicines Company Profile

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.