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

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $66.25.

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $68.00 target price on shares of Revolution Medicines in a research report on Tuesday, December 3rd. Piper Sandler upped their price objective on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. HC Wainwright upped their price target on Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer upped their target price on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Guggenheim upped their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd.

Revolution Medicines Stock Down 0.4 %

Shares of RVMD stock opened at $40.99 on Monday. The company has a market capitalization of $6.90 billion, a P/E ratio of -11.42 and a beta of 1.46. Revolution Medicines has a 12-month low of $26.95 and a 12-month high of $62.40. The firm has a 50-day moving average price of $46.66 and a 200 day moving average price of $46.75.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share 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. As a group, research analysts expect that Revolution Medicines will post -3.49 earnings per share for the current year.

Insiders Place Their Bets

In other Revolution Medicines news, CFO Jack Anders sold 2,635 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the sale, the chief financial officer now directly owns 96,470 shares of the company’s stock, valued at approximately $4,379,738. This represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Margaret A. Horn sold 4,329 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $196,536.60. Following the completion of the sale, the chief operating officer now directly owns 127,991 shares in the company, valued at approximately $5,810,791.40. The trade was a 3.27 % 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 valued at $847,981 in the last three months. 8.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its stake in shares of Revolution Medicines by 7.4% during the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after buying an additional 365 shares during the last quarter. Sei Investments Co. lifted its position in Revolution Medicines by 175.8% during the second quarter. Sei Investments Co. now owns 45,149 shares of the company’s stock worth $1,752,000 after acquiring an additional 28,778 shares during the last quarter. Xponance Inc. grew its position in shares of Revolution Medicines by 13.9% in the second quarter. Xponance Inc. now owns 9,651 shares of the company’s stock valued at $375,000 after purchasing an additional 1,175 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Revolution Medicines during the 2nd quarter worth approximately $498,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Revolution Medicines by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 212,368 shares of the company’s stock valued at $8,242,000 after purchasing an additional 13,318 shares during the period. 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.