Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $275.00

Revolution Medicines (NASDAQ:RVMD) had its target price raised by Needham & Company LLC from $240.00 to $275.00 in a report issued on Monday, Marketbeat reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. TD Cowen raised shares of Revolution Medicines to a “strong-buy” rating in a report on Monday, August 24th. Mizuho raised their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Piper Sandler boosted their target price on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. UBS Group boosted their target price on shares of Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $248.00 target price on shares of Revolution Medicines in a research note on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Revolution Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.74.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $209.23 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 fifty-two week low of $38.49 and a fifty-two week high of $224.31. The business has a 50 day moving average price of $195.72 and a two-hundred day moving average price of $151.30. The firm has a market cap of $44.85 billion, a PE ratio of -23.72 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the business earned ($1.31) earnings per share. Sell-side analysts expect that Revolution Medicines will post -8.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 80,000 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the completion of the sale, the insider owned 267,330 shares of the company’s stock, valued at $55,925,436. This represents a 23.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 29,600 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the sale, the chief operating officer owned 154,647 shares in the company, valued at approximately $24,762,077.64. This trade represents a 16.07% 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. Over the last quarter, insiders have sold 268,497 shares of company stock worth $49,587,926. 7.60% of the stock is owned by company insiders.

Institutional Trading of Revolution Medicines

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Contravisory Investment Management Inc. bought a new position in Revolution Medicines during the 2nd quarter worth $32,000. Global Retirement Partners LLC lifted its stake in Revolution Medicines by 1,002.8% in 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. Johnson Financial Group Inc. acquired a new position in shares of Revolution Medicines during the second quarter valued at $37,000. Arax Advisory Partners acquired a new position in shares of Revolution Medicines during the fourth quarter valued at $38,000. Finally, Silvant Capital Management LLC acquired a new position in shares of Revolution Medicines during the second quarter valued at $41,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

About Revolution Medicines

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.