Revolution Medicines (NASDAQ:RVMD) Raised to “Strong-Buy” at Wolfe Research

Revolution Medicines (NASDAQ:RVMD) was upgraded by investment analysts at Wolfe Research to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC raised their price target on shares of Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Truist Financial initiated coverage on Revolution Medicines in a report on Friday, September 5th. They issued a “buy” rating and a $99.00 price target for the company. JPMorgan Chase & Co. upped their target price on Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. The Goldman Sachs Group raised their target price on Revolution Medicines from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $78.50.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $70.53 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. The stock’s 50 day simple moving average is $52.94 and its 200-day simple moving average is $43.53. The company has a market cap of $13.63 billion, a PE ratio of -13.64 and a beta of 1.25. Revolution Medicines has a 1-year low of $29.17 and a 1-year high of $71.62.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same quarter in the prior year, the firm posted ($0.94) earnings per share. As a group, equities research analysts anticipate that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 30,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $60.31, for a total value of $1,809,300.00. Following the completion of the sale, the insider owned 347,863 shares in the company, valued at approximately $20,979,617.53. This trade represents a 7.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Margaret A. Horn sold 4,775 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $218,790.50. Following the completion of the sale, the chief operating officer directly owned 145,900 shares in the company, valued at approximately $6,685,138. The trade was a 3.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 238,033 shares of company stock worth $11,566,908. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Revolution Medicines by 45.1% during the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock worth $39,000 after purchasing an additional 260 shares in the last quarter. CWM LLC lifted its holdings in Revolution Medicines by 171.3% during the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after buying an additional 579 shares in the last quarter. Banque Transatlantique SA purchased a new position in Revolution Medicines in the 1st quarter valued at approximately $42,000. Quarry LP acquired a new position in shares of Revolution Medicines in the first quarter worth $50,000. Finally, Twin Tree Management LP purchased a new stake in shares of Revolution Medicines during the first quarter worth $58,000. 94.34% of the stock is owned by institutional investors and hedge funds.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.