Revolution Medicines, Inc. (NASDAQ:RVMD) Stock Has Average Target Price of $234.76 According to Analysts

Key Points

• Analysts maintain a Moderate Buy consensus on Revolution Medicines, with 21 buy ratings, one strong buy, one hold, and one sell among 24 brokerages. The average 12-month price target is $234.76, above the reported share price of $188.44.
• Institutional ownership is substantial: hedge funds and other institutional investors own 94.34% of RVMD, with firms including Janus Henderson, Alphabet, ABS Investment Management, and General Atlantic holding significant stakes.
• RVMD shares have fallen 2.8% and the company recently reported a quarterly loss of $3.06 per share, missing the consensus estimate of a $2.04 loss. Insiders sold 290,991 shares worth about $59.4 million over the past 90 days.

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-four brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twenty-one have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $234.76.

Several analysts recently issued reports on RVMD shares. Bank of America boosted their target price on shares of Revolution Medicines from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Monday, September 21st. Truist Financial upped their target price on shares of Revolution Medicines from $239.00 to $240.00 and gave the company a "buy" rating in a report on Wednesday, October 7th. Oppenheimer upped their target price on shares of Revolution Medicines from $230.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. Royal Bank Of Canada increased their price target on shares of Revolution Medicines from $251.00 to $259.00 and gave the stock an "outperform" rating in a research report on Thursday, October 8th. Finally, Sanford C. Bernstein lifted their price target on shares of Revolution Medicines from $151.00 to $179.00 and gave the stock a "market perform" rating in a research note on Friday, August 21st.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark Goldsmith sold 80,000 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the completion of the sale, the insider owned 267,330 shares of the company's stock, valued at approximately $55,925,436. The trade was a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alan Sandler sold 6,309 shares of the company's stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $202.14, for a total value of $1,275,301.26. Following the completion of the sale, the insider owned 52,559 shares of the company's stock, valued at approximately $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 290,991 shares of company stock valued at $59,422,765 in the last ninety days. Corporate insiders own 7.60% of the company's stock.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. Janus Henderson Group PLC raised its holdings in Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company's stock valued at $980,036,000 after acquiring an additional 947,448 shares during the period. Alphabet Inc. purchased a new stake in Revolution Medicines during the 2nd quarter valued at approximately $551,843,000. ABS Investment Management LLC purchased a new stake in Revolution Medicines during the 2nd quarter valued at approximately $337,104,000. General Atlantic L.P. grew its holdings in Revolution Medicines by 13.7% during the 4th quarter. General Atlantic L.P. now owns 2,812,928 shares of the company's stock valued at $224,050,000 after buying an additional 338,500 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Revolution Medicines during the second quarter valued at approximately $184,267,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Trading Down 2.8%

Shares of NASDAQ:RVMD opened at $188.44 on Wednesday. The stock's 50-day simple moving average is $204.01 and its two-hundred day simple moving average is $172.00. The stock has a market capitalization of $40.39 billion, a price-to-earnings ratio of -21.37 and a beta of 1.40. Revolution Medicines has a 52-week low of $47.45 and a 52-week high of $224.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the previous year, the firm earned ($1.31) EPS. Analysts expect that Revolution Medicines will post -8.98 EPS for the current year.

About Revolution Medicines

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted therapies for patients with cancer. The company's research centers on the RAS signaling pathway, a key driver of tumor growth that is altered in many cancers, including those involving KRAS mutations.

Its pipeline includes RAS(ON) inhibitors designed to target active RAS proteins and address a range of RAS-driven tumors. Key development programs include daraxonrasib (RMC-6236), a broad-spectrum RAS inhibitor, and zoldonrasib (RMC-9805), an investigational inhibitor aimed at KRAS G12D-mutated cancers.

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