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

Revolution Medicines, Inc. (NASDAQ:RVMD) has received a consensus recommendation of “Buy” from the twelve research firms that are currently covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $63.67.

RVMD has been the subject of a number of research reports. Oppenheimer increased their target price on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Wedbush restated an “outperform” rating and set a $70.00 price objective on shares of Revolution Medicines in a report on Monday, December 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. HC Wainwright increased their target price on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Piper Sandler boosted their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, November 7th.

Insider Buying and Selling

In other news, Director Thilo Schroeder bought 1,304,347 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were bought at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the acquisition, the director now owns 2,096,612 shares in the company, valued at $96,444,152. This trade represents a 164.64 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark A. Goldsmith sold 10,000 shares of Revolution Medicines stock in a transaction dated 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. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,866 shares of company stock worth $6,355,624. Corporate insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its holdings in shares of Revolution Medicines by 17.5% in the second quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock valued at $416,000 after purchasing an additional 1,601 shares during the last quarter. Clear Harbor Asset Management LLC grew its stake in Revolution Medicines by 10.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock valued at $436,000 after buying an additional 1,036 shares during the last quarter. Raymond James & Associates raised its holdings in Revolution Medicines by 196.4% in the 2nd quarter. Raymond James & Associates now owns 74,370 shares of the company’s stock valued at $2,886,000 after acquiring an additional 49,275 shares during the period. Nisa Investment Advisors LLC lifted its position in Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after acquiring an additional 320 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Revolution Medicines by 21.9% during the second quarter. Bank of New York Mellon Corp now owns 645,253 shares of the company’s stock worth $25,042,000 after acquiring an additional 115,844 shares during the period. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Up 0.2 %

Shares of RVMD stock opened at $45.01 on Friday. Revolution Medicines has a 12-month low of $25.58 and a 12-month high of $62.40. The firm has a fifty day moving average of $52.38 and a 200-day moving average of $45.90. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of -12.54 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter in the previous year, the business earned ($0.99) earnings per share. Research analysts expect that Revolution Medicines will post -3.5 earnings per share for the current year.

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.