Revolution Medicines (RVMD) Set to Announce Earnings on Wednesday

Revolution Medicines (NASDAQ:RVMD) will be releasing its earnings data after the market closes on Wednesday, November 6th. Analysts expect Revolution Medicines to post earnings of ($0.88) per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.81 million. During the same quarter in the prior year, the firm posted ($0.92) EPS. Revolution Medicines’s revenue was down 73.8% 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 Price Performance

Shares of NASDAQ:RVMD traded down $0.01 during midday trading on Tuesday, reaching $55.86. 291,620 shares of the company were exchanged, compared to its average volume of 1,317,409. The business’s fifty day moving average is $46.26 and its two-hundred day moving average is $42.62. Revolution Medicines has a one year low of $18.79 and a one year high of $56.56.

Analysts Set New Price Targets

Several research firms have commented on RVMD. Barclays increased their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. HC Wainwright restated a “buy” rating and set a $56.00 price target on shares of Revolution Medicines in a report on Monday, August 12th. Wedbush reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $61.00 target price on shares of Revolution Medicines in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note 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 stock. According to data from MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and an average price target of $56.75.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 300,170 shares of the company’s stock, valued at $13,486,638.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barbara Weber sold 5,200 shares of the firm’s 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 owns 13,065 shares in the company, valued at $627,381.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,866 shares of company stock worth $6,355,624 over the last 90 days. Company 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.