Revolution Medicines (NASDAQ:RVMD) Given “Outperform” Rating at Wedbush

Revolution Medicines (NASDAQ:RVMD)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research note issued on Thursday,RTT News reports. They currently have a $67.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 68.83% from the stock’s current price.

A number of other equities analysts have also weighed in on RVMD. Guggenheim boosted their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. raised their target price on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Stifel Nicolaus lowered their target price on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a report on Thursday. Needham & Company LLC lowered their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday. Finally, UBS Group increased their price target on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $66.23.

Revolution Medicines Price Performance

NASDAQ RVMD traded down $0.81 during trading on Thursday, hitting $39.69. The company’s stock had a trading volume of 779,498 shares, compared to its average volume of 1,271,317. The company has a market cap of $6.68 billion, a PE ratio of -11.04 and a beta of 1.45. The business’s 50 day simple moving average is $42.30 and its 200-day simple moving average is $46.24. Revolution Medicines has a fifty-two week low of $29.00 and a fifty-two week high of $62.40.

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

Insider Buying and Selling

In other Revolution Medicines news, COO Margaret A. Horn sold 4,329 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the transaction, the chief operating officer now directly owns 127,991 shares in the company, valued at approximately $5,810,791.40. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 2,635 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the completion of the transaction, the chief financial officer now owns 96,470 shares in the company, valued at $4,379,738. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,678 shares of company stock worth $847,981 in the last quarter. 8.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc purchased a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $34,000. Quarry LP purchased a new position in shares of Revolution Medicines in the 3rd quarter valued at approximately $82,000. Sterling Capital Management LLC boosted its stake in shares of Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after buying an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after buying an additional 1,613 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Revolution Medicines during the fourth quarter worth $104,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

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.