Revolution Medicines' (RVMD) Buy Rating Reiterated at TD Cowen

Key Points

• TD Cowen reiterated its “Buy” rating on Revolution Medicines and maintained a $250 price target, implying approximately 25% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $242.95; individual targets range as high as $320.
• Shares rose 1.7% to $199.91, while the company reported a larger-than-expected quarterly loss of $3.06 per share versus the $2.04 consensus estimate.

Revolution Medicines (NASDAQ:RVMD - Get Free Report)'s stock had its "buy" rating restated by TD Cowen in a note issued to investors on Wednesday, Benzinga reports. They currently have a $250.00 price target on the stock. TD Cowen's target price points to a potential upside of 25.05% from the company's previous close.

A number of other analysts also recently issued reports on the company. Royal Bank Of Canada raised their price objective on Revolution Medicines from $259.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 14th. Guggenheim increased their target price on shares of Revolution Medicines from $240.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. Mizuho increased their target price on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. HC Wainwright lifted their price target on shares of Revolution Medicines from $195.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Finally, Evercore reissued an "outperform" rating and issued a $320.00 price target on shares of Revolution Medicines in a research note on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Revolution Medicines presently has an average rating of "Moderate Buy" and a consensus price target of $242.95.

Revolution Medicines Trading Up 1.7%

RVMD traded up $3.36 during trading hours on Wednesday, reaching $199.91. The company's stock had a trading volume of 628,921 shares, compared to its average volume of 2,842,675. Revolution Medicines has a fifty-two week low of $52.48 and a fifty-two week high of $224.31. The stock has a market cap of $42.85 billion, a PE ratio of -22.72 and a beta of 1.40. The business's 50-day moving average is $202.54 and its 200-day moving average is $175.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the prior year, the business earned ($1.31) earnings per share. As a group, equities research analysts predict that Revolution Medicines will post -8.93 earnings per share for the current fiscal year.

Insider Transactions at Revolution Medicines

In other news, CFO Jack Anders sold 4,053 shares of the firm'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 $807,519.72. Following the sale, the chief financial officer directly owned 119,216 shares in the company, valued at approximately $23,752,595.84. This trade represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Goldsmith sold 13,988 shares of Revolution Medicines stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $2,786,969.12. Following the sale, the insider directly owned 253,342 shares of the company's stock, valued at approximately $50,475,860.08. This trade represents a 5.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 290,991 shares of company stock valued at $59,422,765 over the last quarter. Insiders own 7.60% of the company's stock.

Institutional Trading of Revolution Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of RVMD. Englebert Financial Advisers LLC purchased a new position in shares of Revolution Medicines in the 3rd quarter valued at about $912,000. QP Wealth Management LLC acquired a new position in Revolution Medicines during the third quarter worth $1,201,000. Pinnacle Associates Ltd. acquired a new position in Revolution Medicines during the third quarter worth $374,000. Robeco Institutional Asset Management B.V. boosted its position in Revolution Medicines by 439.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 22,319 shares of the company's stock worth $4,581,000 after purchasing an additional 18,179 shares in the last quarter. Finally, West Branch Capital LLC purchased a new stake in Revolution Medicines during the third quarter worth $103,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.

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