Revolution Medicines’ (RVMD) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Revolution Medicines (NASDAQ:RVMD) in a report published on Monday,Benzinga reports. HC Wainwright currently has a $195.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. Wedbush raised their price objective on shares of Revolution Medicines from $165.00 to $181.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Sanford C. Bernstein began coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Piper Sandler increased their target price on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Oppenheimer lifted 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.33.

Revolution Medicines Stock Performance

RVMD traded down $0.64 on Monday, hitting $189.35. 154,227 shares of the company traded hands, compared to its average volume of 3,354,236. The company has a 50 day moving average of $156.00 and a 200-day moving average of $120.84. Revolution Medicines has a 12-month low of $34.00 and a 12-month high of $193.69. The stock has a market capitalization of $40.26 billion, a PE ratio of -26.71 and a beta of 1.37. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the previous year, the firm posted ($1.13) EPS. Sell-side analysts anticipate that Revolution Medicines will post -7.94 earnings per share for the current year.

Insider Activity

In other news, COO Margaret A. Horn sold 60,400 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $160.17, for a total value of $9,674,268.00. Following the transaction, the chief operating officer owned 158,222 shares of the company’s stock, valued at approximately $25,342,417.74. This trade represents a 27.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the transaction, the director directly owned 21,656 shares in the company, valued at approximately $4,071,111.44. This represents a 20.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 252,497 shares of company stock valued at $39,481,286 over the last quarter. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RVMD. General Atlantic L.P. purchased a new position in Revolution Medicines in the 3rd quarter worth about $115,556,000. Norges Bank bought a new stake in shares of Revolution Medicines during the 4th quarter worth $195,568,000. Avoro Capital Advisors LLC bought a new position in shares of Revolution Medicines in the fourth quarter worth about $172,840,000. UBS Group AG boosted its stake in Revolution Medicines by 183.6% during the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock valued at $245,954,000 after purchasing an additional 1,998,972 shares during the period. Finally, Polar Capital Holdings Plc boosted its stake in Revolution Medicines by 321.2% during the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock valued at $160,398,000 after purchasing an additional 1,535,686 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

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.