HC Wainwright Reiterates "Buy" Rating for Revolution Medicines (NASDAQ:RVMD)

Key Points

• HC Wainwright reiterated a "Buy" rating on Revolution Medicines with a $169 price target, implying roughly a 13.5% upside from the stock's current levels.
• The broader analyst consensus is also positive—four Strong Buy, sixteen Buy and one Sell—yet the aggregated average price target of $84.59 is materially lower than HC Wainwright's target and the current share price.
• Fundamentals and insider activity show mixed signals: the company reported Q results EPS of ($1.86), missing estimates, while insiders sold 184,592 shares (~$24.5M) in the last quarter (insiders own 8.2% of shares).

Revolution Medicines (NASDAQ:RVMD - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $169.00 price target on the stock. HC Wainwright's target price would indicate a potential upside of 13.50% from the stock's current price.

Other equities analysts have also recently issued research reports about the stock. Evercore reissued an "outperform" rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Benchmark reiterated an "overweight" rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Jefferies Financial Group began coverage on Revolution Medicines in a research note on Monday, March 16th. They issued a "buy" rating for the company. Stifel Nicolaus reiterated a "buy" rating on shares of Revolution Medicines in a research note on Monday. Finally, Truist Financial upgraded Revolution Medicines to a "strong-buy" rating in a research note on Wednesday, March 25th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Revolution Medicines has an average rating of "Buy" and an average price target of $84.59.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $148.90 on Wednesday. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. Revolution Medicines has a 52 week low of $34.00 and a 52 week high of $155.70. The stock has a market capitalization of $29.51 billion, a PE ratio of -25.19 and a beta of 1.01. The firm has a 50 day moving average of $105.17 and a two-hundred day moving average of $87.90.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same quarter in the prior year, the firm earned ($1.12) EPS. On average, research analysts predict that Revolution Medicines will post -7.69 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other news, CFO Jack Anders sold 2,753 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the completion of the sale, the chief financial officer directly owned 125,512 shares of the company's stock, valued at approximately $12,485,933.76. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Michael Kelsey sold 4,302 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $427,962.96. Following the sale, the insider owned 295,398 shares of the company's stock, valued at approximately $29,386,193.04. The trade was a 1.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 184,592 shares of company stock worth $24,499,532. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its stake in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company's stock worth $32,000 after purchasing an additional 361 shares during the last quarter. Indiana Trust & Investment Management Co purchased a new stake in Revolution Medicines during the fourth quarter worth approximately $32,000. Torren Management LLC purchased a new stake in Revolution Medicines during the fourth quarter worth approximately $33,000. Arax Advisory Partners purchased a new stake in Revolution Medicines during the fourth quarter worth approximately $38,000. Finally, Darwin Wealth Management LLC purchased a new stake in Revolution Medicines during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company's research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.

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