Leerink Partners Increases Revolution Medicines (NASDAQ:RVMD) Price Target to $147.00

Revolution Medicines (NASDAQ:RVMD) had its target price raised by Leerink Partners from $115.00 to $147.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price objective suggests a potential upside of 7.88% from the company’s current price.

RVMD has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Jefferies Financial Group began coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating on the stock. UBS Group began coverage on shares of Revolution Medicines in a research note on Friday, February 27th. They set a “buy” rating on the stock. Finally, Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Five analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and a consensus target price of $82.72.

Revolution Medicines Price Performance

RVMD traded up $39.83 during trading on Monday, hitting $136.26. 12,653,733 shares of the stock traded hands, compared to its average volume of 3,257,746. Revolution Medicines has a twelve month low of $34.00 and a twelve month high of $136.80. The company has a market cap of $27.00 billion, a price-to-earnings ratio of -22.95 and a beta of 1.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.14 and a quick ratio of 7.14. The business has a 50 day moving average price of $98.12 and a 200 day moving average price of $82.89.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period in the previous year, the company earned ($1.12) EPS. Equities research analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 12,871 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $1,280,407.08. Following the sale, the insider owned 276,698 shares of the company’s stock, valued at $27,525,917.04. The trade was a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Michael Kelsey sold 4,302 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $427,962.96. Following the completion of the sale, the insider directly owned 295,398 shares in the company, valued at approximately $29,386,193.04. This represents a 1.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,592 shares of company stock valued at $6,488,732 over the last quarter. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of Revolution Medicines

Institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC grew its stake in shares of Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the last quarter. Indiana Trust & Investment Management Co bought a new stake in shares of Revolution Medicines in the fourth quarter worth $32,000. Torren Management LLC bought a new stake in shares of Revolution Medicines in the fourth quarter worth $33,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines in the fourth quarter worth $38,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Revolution Medicines in the fourth quarter worth $40,000. Institutional investors own 94.34% of the company’s stock.

Key Stories Impacting Revolution Medicines

Here are the key news stories impacting Revolution Medicines this week:

• Positive Sentiment: Late?stage trial reported strong overall survival and progression benefit for daraxonrasib vs. chemo — a clinically meaningful result that could support regulatory filings and future sales. Revolution Medicines’ experimental cancer pill helps improve survival in late-stage study — Reuters
• Positive Sentiment: Market reaction: shares surged sharply on the trial news, hitting a record high and trading at multiples of average volume as momentum traders and institutions pushed the stock higher. How This Biotech Stock Skirted Today’s Selloff — Schaeffers Research
• Neutral Sentiment: Sell?side support: LifeSci Capital reiterated a buy rating on RVMD, which may reinforce investor conviction but is not new clinical data. LifeSci Capital Sticks to Its Buy Rating for Revolution Medicines (RVMD)
• Negative Sentiment: Some traders bought an elevated volume of put options ahead of today’s move, indicating pockets of hedging or speculative bearish bets that could increase volatility on any follow?through. Investors Purchase High Volume of Put Options on Revolution Medicines (NASDAQ:RVMD)
• Negative Sentiment: Prior fundamentals: the company reported an EPS miss in its Feb quarter and remains unprofitable, so long?term valuation and commercial execution risks remain despite the positive trial. No link

Revolution Medicines Company Profile

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.