Revolution Medicines (NASDAQ:RVMD) Upgraded to “Strong-Buy” at TD Cowen

TD Cowen upgraded shares of Revolution Medicines (NASDAQ:RVMD) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on RVMD. Wolfe Research restated an “outperform” rating and issued a $220.00 price objective on shares of Revolution Medicines in a research note on Monday, August 10th. HC Wainwright reiterated a “buy” rating and issued a $195.00 price target on shares of Revolution Medicines in a research report on Monday, July 6th. Mizuho boosted their price target on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Piper Sandler raised their target price on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Sanford C. Bernstein boosted their target price on shares of Revolution Medicines from $151.00 to $179.00 and gave the stock a “market perform” rating in a research note on Friday. Two 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $167.89.

Revolution Medicines Stock Performance

RVMD stock opened at $211.58 on Monday. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines has a twelve month low of $35.62 and a twelve month high of $220.34. The company has a market cap of $45.35 billion, a P/E ratio of -23.99 and a beta of 1.39. The business’s fifty day moving average is $189.02 and its 200-day moving average is $145.65.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the business earned ($1.31) EPS. Equities research analysts forecast that Revolution Medicines will post -8.82 EPS for the current year.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction 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 sale, the chief financial officer directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. This trade represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sushil Patel sold 5,580 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the transaction, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 132,497 shares of company stock valued at $21,470,486 over the last three months. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its holdings in Revolution Medicines by 26,920.9% during the 2nd quarter. California State Teachers Retirement System now owns 44,659,351 shares of the company’s stock valued at $8,363,803,000 after buying an additional 44,494,074 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after purchasing an additional 947,448 shares in the last quarter. Nextech Invest Ltd. raised its position in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP raised its holdings in Revolution Medicines by 6.8% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock worth $529,227,000 after buying an additional 421,112 shares during the last quarter. 94.34% of the stock is currently 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.