Leerink Partners Increases Revolution Medicines (NASDAQ:RVMD) Price Target to $147.00

Key Points

• Leerink Partners raised its price target on Revolution Medicines from $115 to $147 and kept an "outperform" rating, implying roughly a 7.9% upside from the prior close.
• A late‑stage trial of daraxonrasib reported a meaningful overall survival and progression benefit, which spurred a sharp share surge to a record intraday high and trading far above average volume.
• Despite the clinical news, the company remains unprofitable after an EPS miss in February; the consensus analyst average target is $82.72, and insiders have recently reduced holdings.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) had its target price upped by research analysts at Leerink Partners from $115.00 to $147.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Leerink Partners' price target would indicate a potential upside of 7.88% from the company's previous close.

RVMD has been the subject of several other reports. Jefferies Financial Group started coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They set a "buy" rating for the company. Wedbush restated an "outperform" rating on shares of Revolution Medicines in a research report on Friday, January 9th. Evercore upgraded shares of Revolution Medicines to a "strong-buy" rating in a research report on Wednesday, February 25th. Truist Financial upgraded shares of Revolution Medicines to a "strong-buy" rating in a research report on Wednesday, March 25th. Finally, Benchmark reiterated an "overweight" rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Five research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $82.72.

Revolution Medicines Stock Performance

RVMD stock traded up $39.83 during mid-day trading on Monday, hitting $136.26. 12,653,733 shares of the company were exchanged, compared to its average volume of 3,257,746. The business has a 50 day simple moving average of $98.12 and a 200-day simple moving average of $82.89. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $27.00 billion, a PE ratio of -22.95 and a beta of 1.01. Revolution Medicines has a 1-year low of $34.00 and a 1-year high of $136.80.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period in the previous year, the business posted ($1.12) EPS. On average, equities analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Stephen Michael Kelsey sold 4,302 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the completion of the sale, the insider directly owned 295,398 shares in the company, valued at approximately $29,386,193.04. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jack Anders sold 2,753 shares of Revolution Medicines stock in a transaction that occurred 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,592 shares of company stock valued at $6,488,732 in the last quarter. Corporate insiders own 8.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock valued at $802,000 after purchasing an additional 125 shares in the last quarter. Deutsche Bank AG raised its position in Revolution Medicines by 0.4% during the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company's stock valued at $2,566,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC raised its position in Revolution Medicines by 33.1% during the fourth quarter. Signaturefd LLC now owns 656 shares of the company's stock valued at $52,000 after purchasing an additional 163 shares in the last quarter. Allworth Financial LP raised its position in Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company's stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Revolution Medicines by 44.7% during the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company's stock valued at $60,000 after purchasing an additional 232 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Revolution Medicines

Here are the key news stories impacting Revolution Medicines this week:

• Positive Sentiment: Late‑stage trial reported strong overall survival and progression benefit for daraxonrasib vs. chemo — a clinically meaningful result that could support regulatory filings and future sales. Revolution Medicines' experimental cancer pill helps improve survival in late-stage study — Reuters
• Positive Sentiment: Market reaction: shares surged sharply on the trial news, hitting a record high and trading at multiples of average volume as momentum traders and institutions pushed the stock higher. How This Biotech Stock Skirted Today's Selloff — Schaeffers Research
• Neutral Sentiment: Sell‑side support: LifeSci Capital reiterated a buy rating on RVMD, which may reinforce investor conviction but is not new clinical data. LifeSci Capital Sticks to Its Buy Rating for Revolution Medicines (RVMD)
• Negative Sentiment: Some traders bought an elevated volume of put options ahead of today’s move, indicating pockets of hedging or speculative bearish bets that could increase volatility on any follow‑through. Investors Purchase High Volume of Put Options on Revolution Medicines NASDAQ: RVMD
• Negative Sentiment: Prior fundamentals: the company reported an EPS miss in its Feb quarter and remains unprofitable, so long‑term valuation and commercial execution risks remain despite the positive trial. No link

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.

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.