Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $53.45 Consensus Target Price from Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD) has received a consensus rating of “Buy” from the eleven analysts that are presently covering the company, Marketbeat reports. Ten analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $54.00.

Several brokerages have issued reports on RVMD. Jefferies Financial Group started coverage on shares of Revolution Medicines in a research report on Monday, July 8th. They set a “buy” rating and a $63.00 price objective for the company. Needham & Company LLC dropped their price target on Revolution Medicines from $62.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Revolution Medicines in a report on Monday, August 12th. JPMorgan Chase & Co. lowered their price objective on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Wedbush reissued an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $45.35 on Tuesday. The business has a fifty day simple moving average of $43.70 and a two-hundred day simple moving average of $39.73. Revolution Medicines has a 1 year low of $15.44 and a 1 year high of $48.61. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of -12.09 and a beta of 1.43.

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

Insider Buying and Selling

In related news, General Counsel Jeff Cislini sold 2,399 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $40.83, for a total transaction of $97,951.17. Following the completion of the sale, the general counsel now owns 47,088 shares of the company’s stock, valued at $1,922,603.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Revolution Medicines news, General Counsel Jeff Cislini sold 2,399 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $40.83, for a total transaction of $97,951.17. Following the completion of the transaction, the general counsel now directly owns 47,088 shares in the company, valued at $1,922,603.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $45.88, for a total value of $458,800.00. Following the completion of the sale, the insider now directly owns 311,885 shares in the company, valued at approximately $14,309,283.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,221 shares of company stock worth $2,552,337. Company insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RVMD. Wellington Management Group LLP boosted its stake in shares of Revolution Medicines by 40.8% in the 4th quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock valued at $426,818,000 after purchasing an additional 4,309,611 shares in the last quarter. Vanguard Group Inc. lifted its stake in Revolution Medicines by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock valued at $475,622,000 after purchasing an additional 122,721 shares during the last quarter. Farallon Capital Management LLC boosted its position in Revolution Medicines by 30.0% in the second quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock valued at $378,696,000 after buying an additional 2,249,820 shares in the last quarter. Baker BROS. Advisors LP boosted its position in Revolution Medicines by 46.6% in the first quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company’s stock valued at $243,312,000 after buying an additional 2,400,592 shares in the last quarter. Finally, BVF Inc. IL grew its stake in shares of Revolution Medicines by 50.2% during the fourth quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock worth $171,541,000 after buying an additional 2,000,000 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.