Revolution Medicines (RVMD) to Release Quarterly Earnings on Wednesday

Revolution Medicines (NASDAQ:RVMD) is anticipated to announce its earnings results after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of ($1.01) per share and revenue of $0.35 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Revolution Medicines Price Performance

RVMD opened at $41.23 on Tuesday. The firm’s fifty day moving average price is $42.42 and its two-hundred day moving average price is $46.29. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of -11.48 and a beta of 1.45. Revolution Medicines has a 1 year low of $29.00 and a 1 year high of $62.40.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,714 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the completion of the transaction, the insider now directly owns 325,056 shares of the company’s stock, valued at $14,757,542.40. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thilo Schroeder purchased 1,304,347 shares of Revolution Medicines stock in a transaction dated Thursday, December 5th. The stock was bought at an average price of $46.00 per share, with a total value of $59,999,962.00. Following the completion of the transaction, the director now owns 2,096,612 shares of the company’s stock, valued at $96,444,152. This represents a 164.64 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 18,678 shares of company stock worth $847,981. Corporate insiders own 8.00% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the subject of a number of research analyst reports. Piper Sandler increased their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. HC Wainwright lifted their target price on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target 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. Guggenheim lifted their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, UBS Group increased their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Eleven research 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.com, the stock has an average rating of “Buy” and a consensus price target of $66.25.

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.