Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $66.31 Consensus Target Price from Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $66.31.

Several equities research analysts have recently issued reports on RVMD shares. Needham & Company LLC decreased their price target on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Guggenheim raised their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus cut their price objective 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. UBS Group raised their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, HC Wainwright raised their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd.

Revolution Medicines Stock Down 1.0 %

Shares of RVMD stock opened at $38.11 on Tuesday. The company has a 50 day moving average of $40.55 and a 200-day moving average of $45.73. Revolution Medicines has a 12-month low of $29.55 and a 12-month high of $62.40. The firm has a market cap of $7.09 billion, a P/E ratio of -10.62 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, equities analysts expect that Revolution Medicines will post -3.49 EPS for the current year.

Insider Transactions at Revolution Medicines

In other 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 completion of the sale, the chief operating officer now directly owns 153,533 shares of the company’s stock, valued at approximately $5,993,928.32. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the sale, the insider now directly owns 441,564 shares of the company’s stock, valued at $17,238,658.56. This represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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

A number of large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in Revolution Medicines by 1.0% in the 4th quarter. California State Teachers Retirement System now owns 113,036 shares of the company’s stock worth $4,944,000 after purchasing an additional 1,104 shares during the period. Jefferies Financial Group Inc. purchased a new position in Revolution Medicines in the 4th quarter worth $994,000. Polar Asset Management Partners Inc. raised its position in Revolution Medicines by 46.0% in the 4th quarter. Polar Asset Management Partners Inc. now owns 34,600 shares of the company’s stock worth $1,513,000 after purchasing an additional 10,900 shares during the period. Mackenzie Financial Corp raised its position in Revolution Medicines by 17.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,055 shares of the company’s stock worth $265,000 after purchasing an additional 885 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in Revolution Medicines in the 4th quarter worth $154,000. Hedge funds and other institutional investors 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.