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

Revolution Medicines, Inc. (NASDAQ:RVMD) has earned an average rating of “Buy” from the thirteen research firms that are presently covering the company, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $66.23.

RVMD has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. HC Wainwright upped their price target on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Stifel Nicolaus dropped their price target on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday. Wedbush reiterated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a research report on Thursday. Finally, UBS Group upped their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,714 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $531,815.60. Following the completion of the transaction, the insider now owns 325,056 shares in the company, valued at $14,757,542.40. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 4,329 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $196,536.60. Following the transaction, the chief operating officer now owns 127,991 shares of the company’s stock, valued at $5,810,791.40. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,678 shares of company stock worth $847,981 over the last 90 days. 8.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors have recently bought and sold shares of RVMD. Creative Planning lifted its position in Revolution Medicines by 40.1% during the third quarter. Creative Planning now owns 37,868 shares of the company’s stock valued at $1,717,000 after purchasing an additional 10,839 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Revolution Medicines in the third quarter valued at $246,000. Raymond James & Associates raised its stake in shares of Revolution Medicines by 156.2% in the third quarter. Raymond James & Associates now owns 190,505 shares of the company’s stock valued at $8,639,000 after acquiring an additional 116,135 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Revolution Medicines by 1,109.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 38,589 shares of the company’s stock valued at $1,750,000 after acquiring an additional 35,399 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of Revolution Medicines in the third quarter valued at $93,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Down 3.5 %

Shares of NASDAQ:RVMD opened at $39.08 on Friday. Revolution Medicines has a 12-month low of $29.00 and a 12-month high of $62.40. The company has a market cap of $6.57 billion, a PE ratio of -10.89 and a beta of 1.45. The stock has a 50 day moving average of $42.21 and a 200 day moving average of $46.19.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). Equities research analysts predict that Revolution Medicines will post -3.49 earnings per share 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.