Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $236.00

Revolution Medicines (NASDAQ:RVMD) had its target price upped by equities research analysts at Needham & Company LLC from $235.00 to $236.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 26.77% from the company’s current price.

A number of other research analysts have also recently issued reports on RVMD. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Evercore restated an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Mizuho raised their price objective on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $195.00 target price on shares of Revolution Medicines in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.06.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $186.16 on Monday. The firm has a market capitalization of $39.58 billion, a P/E ratio of -26.33 and a beta of 1.37. Revolution Medicines has a one year low of $34.00 and a one year high of $193.82. The company’s fifty day moving average is $165.07 and its two-hundred day moving average is $128.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results 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 period last year, the business earned ($1.13) EPS. Analysts forecast that Revolution Medicines will post -7.92 EPS for the current fiscal year.

Insider Activity

In other news, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the transaction, the insider directly owned 291,876 shares of the company’s stock, valued at $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 29,600 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the sale, the chief operating officer owned 154,647 shares in the company, valued at $24,762,077.64. This represents a 16.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 132,497 shares of company stock worth $21,470,486 in the last quarter. 7.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolution Medicines

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Revolution Medicines during the 4th quarter worth about $195,568,000. Avoro Capital Advisors LLC acquired a new position in Revolution Medicines in the 4th quarter valued at about $172,840,000. UBS Group AG lifted its holdings in Revolution Medicines by 183.6% in 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 in the last quarter. Polar Capital Holdings Plc lifted its holdings in Revolution Medicines by 321.2% in 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Revolution Medicines by 197.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,205,555 shares of the company’s stock worth $175,672,000 after purchasing an additional 1,463,155 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.