Revolution Medicines (NASDAQ:RVMD) Price Target Cut to $64.00 by Analysts at Stifel Nicolaus

Revolution Medicines (NASDAQ:RVMD) had its price target dropped by analysts at Stifel Nicolaus from $78.00 to $64.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 81.00% from the company’s current price.

A number of other equities analysts have also commented on RVMD. Guggenheim boosted their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. HC Wainwright upped their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. UBS Group raised their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC reduced their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, February 27th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $65.23.

Revolution Medicines Stock Down 5.3 %

Shares of RVMD opened at $35.36 on Tuesday. The stock’s 50-day moving average price is $40.22 and its 200 day moving average price is $45.57. Revolution Medicines has a 12-month low of $29.55 and a 12-month high of $62.40. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of -9.85 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Equities research analysts expect that Revolution Medicines will post -3.49 EPS for the current year.

Insider Transactions at Revolution Medicines

In other news, COO Margaret A. Horn sold 3,058 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares in the company, valued at approximately $5,993,928.32. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 11,738 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the sale, the insider now owns 441,564 shares of the company’s stock, valued at $17,238,658.56. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock worth $650,406 in the last three months. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in shares of Revolution Medicines by 1.0% during the 4th quarter. California State Teachers Retirement System now owns 113,036 shares of the company’s stock worth $4,944,000 after buying an additional 1,104 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Revolution Medicines in the fourth quarter valued at about $994,000. Polar Asset Management Partners Inc. raised its stake in Revolution Medicines by 46.0% during the fourth quarter. Polar Asset Management Partners Inc. now owns 34,600 shares of the company’s stock worth $1,513,000 after acquiring an additional 10,900 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Revolution Medicines by 17.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,055 shares of the company’s stock valued at $265,000 after purchasing an additional 885 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in Revolution Medicines during the 4th quarter worth approximately $154,000. Institutional investors own 94.34% 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.