Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Consensus Recommendation of “Buy” from Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD) has been given a consensus recommendation of “Buy” by the twelve analysts that are currently covering the stock, MarketBeat reports. Twelve equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $67.08.

Several equities analysts recently issued reports on RVMD shares. HC Wainwright reiterated a “buy” rating and issued a $72.00 price objective (down from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Oppenheimer boosted their price objective on Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Wedbush reiterated an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price objective on shares of Revolution Medicines in a research report on Thursday, May 8th. Finally, Stifel Nicolaus decreased their price objective on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st.

Insider Buying and Selling at Revolution Medicines

In other news, COO Margaret A. Horn sold 3,058 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now owns 153,533 shares in the company, valued at $5,993,928.32. This represents a 1.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jack Anders sold 1,864 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,660 shares of company stock worth $650,406. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in shares of Revolution Medicines by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 12,792 shares of the company’s stock worth $452,000 after purchasing an additional 259 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Revolution Medicines by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock worth $220,000 after purchasing an additional 270 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Revolution Medicines by 11.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock worth $186,000 after purchasing an additional 434 shares in the last quarter. Amalgamated Bank raised its stake in shares of Revolution Medicines by 8.3% during the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company’s stock worth $250,000 after purchasing an additional 435 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in Revolution Medicines by 5.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company’s stock valued at $498,000 after acquiring an additional 545 shares during the period. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Up 2.2%

Revolution Medicines stock opened at $41.09 on Friday. The firm has a market capitalization of $7.65 billion, a P/E ratio of -11.45 and a beta of 1.11. Revolution Medicines has a 1 year low of $29.17 and a 1 year high of $62.40. The business has a 50-day moving average of $37.97 and a 200-day moving average of $41.29.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same period in the prior year, the business posted ($0.70) earnings per share. Research analysts anticipate that Revolution Medicines will post -3.49 EPS for the current fiscal year.

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.