Brokerages Set Revolution Medicines, Inc. (NASDAQ:RVMD) Price Target at $66.31

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned an average recommendation of “Buy” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $66.31.

RVMD has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Stifel Nicolaus cut their target price on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, February 27th. HC Wainwright boosted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Finally, Guggenheim upped their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd.

Revolution Medicines Trading Up 3.2 %

Shares of NASDAQ RVMD opened at $39.34 on Tuesday. Revolution Medicines has a 12-month low of $29.55 and a 12-month high of $62.40. The firm’s 50-day moving average price is $40.49 and its 200-day moving average price is $45.72. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of -10.96 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, equities analysts predict that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now owns 153,533 shares of the company’s stock, valued at $5,993,928.32. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jack Anders sold 1,864 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the transaction, the chief financial officer now directly owns 115,006 shares of the company’s stock, valued at $4,489,834.24. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,660 shares of company stock valued at $650,406. Insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc acquired a new position in Revolution Medicines during the 4th quarter valued at about $34,000. Quarry LP bought a new position in shares of Revolution Medicines in the third quarter valued at approximately $82,000. Sterling Capital Management LLC increased its stake in shares of Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after acquiring an additional 1,672 shares during the period. Farther Finance Advisors LLC raised its holdings in Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Revolution Medicines during the fourth quarter worth approximately $104,000. Institutional investors and hedge funds 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.