Revolution Medicines (NASDAQ:RVMD) Given New $64.00 Price Target at Stifel Nicolaus

Revolution Medicines (NASDAQ:RVMD) had its target price trimmed by Stifel Nicolaus from $78.00 to $64.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

RVMD has been the topic of several other research reports. Needham & Company LLC dropped their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Guggenheim upped their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. UBS Group raised their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright boosted their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and an average price target of $65.23.

Revolution Medicines Stock Down 5.0 %

NASDAQ RVMD opened at $32.87 on Tuesday. Revolution Medicines has a 12-month low of $29.55 and a 12-month high of $62.40. The firm’s 50 day moving average is $39.80 and its 200-day moving average is $45.33. The company has a market capitalization of $6.11 billion, a PE ratio of -9.16 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, sell-side analysts expect that Revolution Medicines will post -3.49 EPS for the current year.

Insider Buying and Selling

In other Revolution Medicines news, CFO Jack Anders sold 1,864 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the transaction, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 11,738 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the completion of the sale, the insider now directly owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,660 shares of company stock valued at $650,406. Company insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of RVMD. Wilmington Savings Fund Society FSB bought a new position in shares of Revolution Medicines during the third quarter worth approximately $801,000. State Street Corp increased its stake in Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock worth $239,429,000 after acquiring an additional 208,516 shares during the period. Barclays PLC increased its stake in Revolution Medicines by 187.1% during the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after acquiring an additional 192,021 shares during the period. Erste Asset Management GmbH acquired a new position in Revolution Medicines in the 3rd quarter valued at $1,210,000. Finally, Cinctive Capital Management LP lifted its position in shares of Revolution Medicines by 132.7% during the 3rd quarter. Cinctive Capital Management LP now owns 53,361 shares of the company’s stock valued at $2,420,000 after acquiring an additional 30,430 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Company Profile

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.