Revolution Medicines, Inc. (NASDAQ:RVMD) Given Average Recommendation of “Buy” by Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD) has received a consensus rating of “Buy” from the twenty-two research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seventeen have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $123.7222.

RVMD has been the topic of several recent research reports. UBS Group initiated coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Oppenheimer raised their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Monday, June 1st. Finally, Piper Sandler upped their target price on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $160.06 on Thursday. Revolution Medicines has a fifty-two week low of $34.00 and a fifty-two week high of $166.50. The stock has a market cap of $34.03 billion, a price-to-earnings ratio of -22.64 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The firm’s 50-day simple moving average is $141.98 and its 200 day simple moving average is $111.27.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the company earned ($1.13) EPS. As a group, research analysts anticipate that Revolution Medicines will post -7.94 earnings per share for the current fiscal year.

Insider Activity

In other Revolution Medicines news, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the transaction, the insider owned 276,698 shares of the company’s stock, valued at $41,529,602.82. This trade represents a 30.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds have recently modified their holdings of RVMD. Vanguard Group Inc. grew its position in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after purchasing an additional 1,056,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Revolution Medicines by 194.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after purchasing an additional 14,062 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Revolution Medicines during the 3rd quarter valued at $921,000. Mass General Brigham Inc purchased a new position in shares of Revolution Medicines during the 4th quarter valued at $27,407,000. Finally, M&T Bank Corp purchased a new position in shares of Revolution Medicines during the 4th quarter valued at $52,723,000. 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.