Revolution Medicines (NASDAQ:RVMD) Stock Gets Price Target Bump from Royal Bank Of Canada

Revolution Medicines (NASDAQ:RVMD) had its price target hoisted by investment analysts at Royal Bank Of Canada from $260.00 to $321.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 74.48% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Brookline Capital Markets began coverage on shares of Revolution Medicines in a research note on Monday, September 28th. They set a “buy” rating and a $318.00 target price for the company. Wolfe Research restated an “outperform” rating and issued a $220.00 price target on shares of Revolution Medicines in a research note on Monday, August 10th. Morgan Stanley assumed coverage on Revolution Medicines in a report on Thursday, September 10th. They set an “overweight” rating and a $255.00 price target for the company. Wedbush lifted their price target on Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Finally, Guggenheim upped their price objective on Revolution Medicines from $275.00 to $298.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Revolution Medicines has a consensus rating of “Moderate Buy” and an average price target of $250.24.

Revolution Medicines Stock Down 7.9%

NASDAQ RVMD traded down $15.73 on Thursday, hitting $183.97. 4,994,692 shares of the stock were exchanged, compared to its average volume of 2,792,989. 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 $58.91 and a fifty-two week high of $224.31. The company has a market cap of $39.43 billion, a PE ratio of -21.04 and a beta of 1.44. The company has a 50-day moving average price of $198.21 and a 200-day moving average price of $156.90.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($1.90) EPS for the quarter, beating analysts’ consensus estimates of ($2.35) by $0.45. The firm had revenue of $197.56 million during the quarter, compared to analysts’ expectations of $25.58 million. During the same period in the prior year, the company posted ($1.61) earnings per share. Sell-side analysts anticipate that Revolution Medicines will post -8.94 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other news, insider Mark Goldsmith sold 13,988 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total value of $2,786,969.12. Following the completion of the transaction, the insider owned 253,342 shares in the company, valued at approximately $50,475,860.08. This represents a 5.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret Horn sold 4,967 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total transaction of $989,625.08. Following the completion of the transaction, the chief operating officer directly owned 149,680 shares in the company, valued at $29,822,243.20. This trade represents a 3.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 290,991 shares of company stock worth $59,422,765. 7.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

Several large investors have recently bought and sold shares of the stock. Lido Advisors LLC acquired a new stake in shares of Revolution Medicines during the third quarter worth about $1,687,000. AlphaCore Capital LLC acquired a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $361,000. Fulcrum Asset Management LLP acquired a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $197,000. Allspring Global Investments Holdings LLC grew its stake in Revolution Medicines by 1,258.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 29,442 shares of the company’s stock worth $6,062,000 after buying an additional 27,275 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in Revolution Medicines by 2.9% during the 3rd quarter. Brighton Jones LLC now owns 3,565 shares of the company’s stock worth $732,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines News Summary

Here are the key news stories impacting Revolution Medicines this week:

• Positive Sentiment: The FDA approved and Revolution Medicines launched RASONQUE (daraxonrasib) for eligible patients with metastatic pancreatic cancer. The drug generated $198 million in net sales in the quarter, which included only a partial period after launch; the EU’s CHMP also recommended marketing authorization. Company results and progress update
• Positive Sentiment: Analysts raised price targets while maintaining bullish ratings: RBC to $321, Guggenheim to $298, Truist to $261 and Piper Sandler to $222. These upgrades signal confidence, though targets are opinions rather than guarantees. RBC target update
• Positive Sentiment: RVMD reported a third-quarter loss of $1.90 per share, narrower than the $2.35 loss analysts expected. Revenue of about $198 million also exceeded estimates, largely reflecting RASONQUE’s launch sales. Quarterly results
• Negative Sentiment: The quarterly loss widened from $1.61 per share a year earlier. Despite the consensus beat, the company remains loss-making, which may temper enthusiasm as investors assess its path toward sustained profitability.

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.