Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $144.6722.

A number of analysts recently commented on RVMD shares. Piper Sandler boosted their target price on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Truist Financial raised their price objective on Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Oppenheimer increased their target price on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada raised their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd.

Revolution Medicines Price Performance

Shares of RVMD opened at $193.46 on Friday. Revolution Medicines has a 1-year low of $34.00 and a 1-year high of $194.56. The company has a market cap of $41.13 billion, a price-to-earnings ratio of -27.36 and a beta of 1.39. The company’s fifty day simple moving average is $173.96 and its 200 day simple moving average is $135.92. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the business posted ($1.13) EPS. On average, research analysts forecast that Revolution Medicines will post -7.92 earnings per share for the current fiscal year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,020 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the completion of the sale, the insider owned 267,330 shares in the company, valued at approximately $41,735,559.60. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the transaction, the chief financial officer directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. This represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 132,497 shares of company stock worth $21,470,486. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds have recently modified their holdings of RVMD. Indiana Trust & Investment Management Co purchased a new position in shares of Revolution Medicines during the 4th quarter worth approximately $32,000. Contravisory Investment Management Inc. purchased a new stake in Revolution Medicines during the 2nd quarter valued at about $32,000. Global Retirement Partners LLC grew its holdings in shares of Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares during the last quarter. Torren Management LLC bought a new stake in shares of Revolution Medicines in the 4th quarter worth $33,000. Finally, Arax Advisory Partners purchased a new position in shares of Revolution Medicines in the fourth quarter worth $38,000. Institutional investors 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.