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

Key Points

• RBC raised its price target on Revolution Medicines to $321 from $260 and maintained an “outperform” rating, implying 74.48% upside from the cited share price. Other firms also increased targets, while the consensus rating was “Moderate Buy.”
• Third-quarter revenue was about $198 million, well above estimates, and the loss of $1.90 per share was narrower than analysts expected. Sales were driven largely by the launch of RASONQUE, which received FDA approval for eligible metastatic pancreatic cancer patients.
• Despite beating estimates, Revolution Medicines remains loss-making, with its quarterly loss wider than a year earlier; shares fell $15.73 to $183.97 in Thursday trading.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) had its price target increased by investment analysts at Royal Bank Of Canada from $260.00 to $321.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 74.48% from the company's current price.

A number of other research firms have also recently weighed in on RVMD. Guggenheim upped their price target on Revolution Medicines from $275.00 to $298.00 and gave the stock a "buy" rating in a report on Thursday. Wolfe Research reissued an "outperform" rating and issued a $220.00 price objective on shares of Revolution Medicines in a report on Monday, August 10th. Bank of America cut their price objective on Revolution Medicines from $265.00 to $264.00 and set a "buy" rating for the company in a research report on Friday, October 9th. Stifel Nicolaus upped their target price on Revolution Medicines from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, September 9th. Finally, Evercore reiterated an "outperform" rating and set a $320.00 target price on shares of Revolution Medicines in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Revolution Medicines presently has a consensus rating of "Moderate Buy" and an average target price of $250.24.

Revolution Medicines Stock Performance

NASDAQ RVMD traded down $15.73 during mid-day trading on Thursday, reaching $183.97. 4,994,692 shares of the stock were exchanged, compared to its average volume of 2,792,989. The company has a market capitalization of $39.43 billion, a P/E ratio of -21.04 and a beta of 1.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The business's 50 day moving average is $198.21 and its 200-day moving average is $156.90. Revolution Medicines has a 1 year low of $58.91 and a 1 year high of $224.31.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($1.90) earnings per share for the quarter, topping analysts' consensus estimates of ($2.35) by $0.45. The firm had revenue of $197.56 million during the quarter, compared to analyst estimates of $25.58 million. During the same quarter last year, the company posted ($1.61) EPS. On average, equities research analysts forecast that Revolution Medicines will post -8.94 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Stephen Kelsey sold 92,531 shares of the business's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $202.36, for a total transaction of $18,724,573.16. Following the completion of the sale, the insider directly owned 291,876 shares in the company, valued at approximately $59,064,027.36. The trade was a 24.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alan B. Sandler sold 6,309 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $202.14, for a total value of $1,275,301.26. Following the transaction, the insider directly owned 52,559 shares of the company's stock, valued at $10,624,276.26. The trade was a 10.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 290,991 shares of company stock worth $59,422,765 in the last three months. 7.60% of the stock is owned by corporate insiders.

Institutional Trading of Revolution Medicines

A number of institutional investors have recently made changes to their positions in RVMD. Bluestem Financial Advisors LLC boosted its holdings in Revolution Medicines by 4.8% in the third quarter. Bluestem Financial Advisors LLC now owns 1,256 shares of the company's stock valued at $258,000 after purchasing an additional 58 shares during the period. IFP Advisors Inc grew its stake in Revolution Medicines by 8.7% during the 3rd quarter. IFP Advisors Inc now owns 810 shares of the company's stock worth $166,000 after purchasing an additional 65 shares in the last quarter. Brighton Jones LLC increased its holdings 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 purchasing an additional 99 shares during the period. TD Waterhouse Canada Inc. increased its holdings in Revolution Medicines by 37.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 370 shares of the company's stock worth $76,000 after purchasing an additional 100 shares during the period. Finally, Meeder Advisory Services Inc. increased its holdings in Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company's stock worth $401,000 after purchasing an additional 120 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Revolution Medicines

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.

About Revolution Medicines

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.