Revolution Medicines, Inc. (NASDAQ:RVMD) Stock Has Consensus Price Target of $234.76

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have received a consensus rating of “Moderate Buy” from the twenty-five analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $242.55.

Several research firms recently issued reports on RVMD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday. Wedbush boosted their price objective on shares of Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Stifel Nicolaus upped their price objective on shares of Revolution Medicines from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Morgan Stanley assumed coverage on Revolution Medicines in a research note on Thursday, September 10th. They set an “overweight” rating and a $255.00 target price for the company. Finally, Bank of America raised their target price on Revolution Medicines from $225.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 21st.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 13,988 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total transaction of $2,786,969.12. Following the transaction, the insider owned 253,342 shares of the company’s stock, valued at approximately $50,475,860.08. This trade represents a 5.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 4,053 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $807,519.72. Following the transaction, the chief financial officer directly owned 119,216 shares in the company, valued at $23,752,595.84. The trade was a 3.29% decrease in their position. 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. In the last three months, insiders have sold 290,991 shares of company stock worth $59,422,765. 7.60% of the stock is currently owned by insiders.

Institutional Trading of Revolution Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after acquiring an additional 947,448 shares during the period. Alphabet Inc. bought a new stake in shares of Revolution Medicines in the 2nd quarter worth approximately $551,843,000. Assenagon Asset Management S.A. increased its holdings in shares of Revolution Medicines by 987.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company’s stock worth $447,710,000 after acquiring an additional 1,980,699 shares during the period. ABS Investment Management LLC bought a new position in Revolution Medicines in the 2nd quarter worth about $337,104,000. Finally, General Atlantic L.P. grew its position in Revolution Medicines by 13.7% in the 4th quarter. General Atlantic L.P. now owns 2,812,928 shares of the company’s stock worth $224,050,000 after purchasing an additional 338,500 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Price Performance

RVMD stock opened at $177.96 on Wednesday. The firm has a market cap of $38.14 billion, a P/E ratio of -20.18 and a beta of 1.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. Revolution Medicines has a 1 year low of $52.40 and a 1 year high of $224.31. The stock has a 50-day simple moving average of $203.22 and a 200-day simple moving average of $173.99.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the previous year, the business earned ($1.31) earnings per share. On average, equities analysts predict that Revolution Medicines will post -8.93 earnings per share for the current fiscal year.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company’s research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.