Revolution Medicines (NASDAQ:RVMD) Stock Price Expected to Rise, Wedbush Analyst Says

Revolution Medicines (NASDAQ:RVMD) had its price objective lifted by equities research analysts at Wedbush to $165.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 14.11% from the company’s current price.

A number of other equities research analysts have also recently commented on RVMD. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. HC Wainwright reiterated a “buy” rating on shares of Revolution Medicines in a research note on Wednesday, April 22nd. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Guggenheim reiterated a “buy” rating and set a $205.00 target price on shares of Revolution Medicines in a research note on Thursday. Finally, Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $97.00.

Revolution Medicines Stock Down 4.3%

RVMD traded down $6.47 during mid-day trading on Thursday, reaching $144.60. 447,999 shares of the stock were exchanged, compared to its average volume of 3,481,422. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14. The stock has a market capitalization of $30.74 billion, a PE ratio of -24.49 and a beta of 1.41. The company has a 50 day moving average price of $112.65 and a two-hundred day moving average price of $93.81. Revolution Medicines has a 1 year low of $34.00 and a 1 year high of $155.70.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the previous year, the firm earned ($1.13) EPS. As a group, research analysts anticipate that Revolution Medicines will post -7.42 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Lin Wei sold 2,073 shares of Revolution Medicines stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $206,222.04. Following the completion of the transaction, the insider owned 101,366 shares of the company’s stock, valued at $10,083,889.68. The trade was a 2.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 4,583 shares of Revolution Medicines stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $455,916.84. Following the transaction, the chief operating officer directly owned 157,570 shares of the company’s stock, valued at $15,675,063.60. The trade was a 2.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 184,592 shares of company stock worth $24,499,532. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. KBC Group NV grew its holdings in shares of Revolution Medicines by 266.6% during the first quarter. KBC Group NV now owns 15,395 shares of the company’s stock worth $1,497,000 after purchasing an additional 11,196 shares in the last quarter. SEB Asset Management AB purchased a new position in shares of Revolution Medicines during the first quarter worth about $6,772,000. Swiss National Bank grew its holdings in shares of Revolution Medicines by 54.0% during the first quarter. Swiss National Bank now owns 425,431 shares of the company’s stock worth $41,373,000 after purchasing an additional 149,100 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Revolution Medicines by 0.7% during the first quarter. Jennison Associates LLC now owns 307,377 shares of the company’s stock worth $29,892,000 after purchasing an additional 2,117 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Revolution Medicines during the first quarter worth about $1,022,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.