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

Revolution Medicines, Inc. (NASDAQ:RVMDGet Free Report) has earned a consensus recommendation of “Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $43.20.

Several analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 target price on shares of Revolution Medicines in a report on Thursday, May 9th. Oppenheimer boosted their price objective on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Wedbush boosted their price objective on shares of Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Piper Sandler started coverage on shares of Revolution Medicines in a report on Monday, March 11th. They issued an “overweight” rating and a $43.00 price objective for the company. Finally, Raymond James raised shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $36.00 to $48.00 in a report on Wednesday, April 10th.

Check Out Our Latest Research Report on RVMD

Insider Activity

In related news, General Counsel Jeff Cislini sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $30.99, for a total transaction of $46,485.00. Following the completion of the transaction, the general counsel now directly owns 54,374 shares in the company, valued at approximately $1,685,050.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Jeff Cislini sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $30.99, for a total transaction of $46,485.00. Following the completion of the transaction, the general counsel now directly owns 54,374 shares in the company, valued at approximately $1,685,050.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Michael Kelsey sold 2,123 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $67,044.34. Following the transaction, the insider now owns 270,909 shares of the company’s stock, valued at $8,555,306.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,705 shares of company stock worth $1,031,049. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Revolution Medicines

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Revolution Medicines by 51.8% during the 4th quarter. Vanguard Group Inc. now owns 14,634,391 shares of the company’s stock worth $419,714,000 after acquiring an additional 4,990,800 shares during the last quarter. Wellington Management Group LLP grew its holdings in Revolution Medicines by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock worth $426,818,000 after acquiring an additional 4,309,611 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in Revolution Medicines by 46.6% during the 1st quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company’s stock worth $243,312,000 after acquiring an additional 2,400,592 shares during the last quarter. BVF Inc. IL grew its holdings in Revolution Medicines by 50.2% during the 4th quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock worth $171,541,000 after acquiring an additional 2,000,000 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Revolution Medicines by 77.9% during the 1st quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock worth $126,067,000 after acquiring an additional 1,712,639 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Price Performance

Shares of RVMD opened at $39.66 on Wednesday. The firm has a 50-day moving average of $35.09 and a 200-day moving average of $29.75. Revolution Medicines has a one year low of $15.44 and a one year high of $40.21. The company has a market cap of $6.54 billion, a PE ratio of -10.58 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMDGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.05. The business’s revenue was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.72) EPS. Analysts expect that Revolution Medicines will post -3.12 earnings per share for the current year.

Revolution Medicines Company Profile

(Get Free Report

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.

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Analyst Recommendations for Revolution Medicines (NASDAQ:RVMD)

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