Revolution Medicines, Inc. (NASDAQ:RVMD) Given Average Recommendation of “Buy” by Analysts

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been assigned an average recommendation of “Buy” from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $52.92.

A number of research firms have weighed in on RVMD. JPMorgan Chase & Co. decreased their price target on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a report on Monday, July 8th. They set a “buy” rating and a $63.00 price target for the company. Needham & Company LLC dropped their price target on shares of Revolution Medicines from $62.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Wedbush reissued an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Finally, Bank of America lifted their target price on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th.

Revolution Medicines Trading Up 2.0 %

Shares of Revolution Medicines stock opened at $43.24 on Friday. Revolution Medicines has a twelve month low of $15.44 and a twelve month high of $48.61. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of -11.53 and a beta of 1.43. The company has a fifty day moving average price of $43.26 and a 200 day moving average price of $38.07.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.81 million. During the same quarter in the previous year, the company posted ($0.92) EPS. Revolution Medicines’s quarterly revenue was down 73.8% compared to the same quarter last year. Analysts forecast that Revolution Medicines will post -3.47 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, General Counsel Jeff Cislini sold 2,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total value of $76,940.00. Following the completion of the transaction, the general counsel now owns 49,487 shares in the company, valued at approximately $1,903,764.89. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Sushil Patel sold 2,155 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $44.00, for a total transaction of $94,820.00. Following the sale, the director now owns 19,948 shares in the company, valued at $877,712. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Jeff Cislini sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the completion of the transaction, the general counsel now directly owns 49,487 shares in the company, valued at approximately $1,903,764.89. The disclosure for this sale can be found here. Insiders have sold 58,421 shares of company stock worth $2,637,077 over the last quarter. 8.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new position in Revolution Medicines during the 2nd quarter valued at approximately $8,846,000. Creative Planning lifted its stake in Revolution Medicines by 65.2% in the second quarter. Creative Planning now owns 27,029 shares of the company’s stock valued at $1,049,000 after buying an additional 10,667 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Revolution Medicines by 519.9% during the second quarter. Algert Global LLC now owns 40,048 shares of the company’s stock valued at $1,554,000 after acquiring an additional 33,588 shares during the period. Susquehanna Fundamental Investments LLC grew its position in shares of Revolution Medicines by 10.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 228,513 shares of the company’s stock worth $8,869,000 after acquiring an additional 22,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Revolution Medicines by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 212,368 shares of the company’s stock worth $8,242,000 after acquiring an additional 13,318 shares during the period. 94.34% of the stock is owned by 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.