Mizuho Begins Coverage on Revolution Medicines (NASDAQ:RVMD)

Key Points

• Mizuho has initiated coverage on Revolution Medicines (NASDAQ:RVMD), setting an "outperform" rating and a price target of $90.00, indicating a potential upside of 66.64%.
• Analysts generally have a consensus rating of "Moderate Buy" for RVMD, with an average target price of $77.50, and 14 analysts assigned a Buy rating.
• Revolution Medicines reported a quarterly EPS of ($1.31), missing estimates, and forecasts suggest a projected EPS of ($3.49) for the current year.

Equities research analysts at Mizuho began coverage on shares of Revolution Medicines (NASDAQ:RVMD - Get Free Report) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set an "outperform" rating and a $90.00 price target on the stock. Mizuho's price objective points to a potential upside of 66.64% from the company's previous close.

A number of other research analysts have also recently commented on RVMD. National Bankshares set a $80.00 target price on Revolution Medicines in a research note on Friday. The Goldman Sachs Group lifted their price objective on Revolution Medicines from $65.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Stifel Nicolaus started coverage on Revolution Medicines in a research note on Wednesday, October 15th. They set a "buy" rating and a $85.00 price objective for the company. Lifesci Capital started coverage on Revolution Medicines in a research note on Monday, August 18th. They set an "outperform" rating and a $80.00 price objective for the company. Finally, Truist Financial started coverage on Revolution Medicines in a research note on Friday, September 5th. They set a "buy" rating and a $99.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.50.

Revolution Medicines Trading Down 0.2%

NASDAQ RVMD opened at $54.01 on Tuesday. Revolution Medicines has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79. The stock has a 50 day simple moving average of $42.78 and a two-hundred day simple moving average of $39.80. The stock has a market cap of $10.10 billion, a P/E ratio of -12.00 and a beta of 1.27.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). The company's revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.81) earnings per share. On average, analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Lin Wei sold 2,160 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $98,971.20. Following the completion of the transaction, the insider owned 88,339 shares of the company's stock, valued at $4,047,692.98. The trade was a 2.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen Michael Kelsey sold 100,000 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.08, for a total value of $4,408,000.00. Following the transaction, the insider directly owned 289,414 shares in the company, valued at approximately $12,757,369.12. The trade was a 25.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,033 shares of company stock valued at $8,456,208 over the last ninety days. Company insiders own 8.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RVMD. Nextech Invest Ltd. lifted its stake in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Revolution Medicines by 11.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock worth $232,000 after purchasing an additional 615 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of Revolution Medicines during the 1st quarter worth approximately $127,000. KBC Group NV increased its holdings in shares of Revolution Medicines by 23.1% during the 1st quarter. KBC Group NV now owns 6,131 shares of the company's stock worth $217,000 after buying an additional 1,152 shares during the last quarter. Finally, Lunate Capital Ltd acquired a new stake in shares of Revolution Medicines during the 1st quarter worth approximately $77,658,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.

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