Mizuho Upgrades Revolution Medicines (NASDAQ:RVMD) to Strong-Buy

Key Points

• Mizuho has upgraded Revolution Medicines (NASDAQ:RVMD) to a "strong-buy" rating, indicating strong confidence in the company's future performance.
• Despite this upgrade, Weiss Ratings maintains a "sell (d-)" rating, showcasing a divergence in analyst opinions on the stock.
• Revolution Medicines has a market cap of $9.90 billion and an average price target among analysts of $77.50, reflecting potential growth prospects.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) was upgraded by research analysts at Mizuho to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

A number of other research firms have also issued reports on RVMD. Weiss Ratings reiterated a "sell (d-)" rating on shares of Revolution Medicines in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price target on Revolution Medicines from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. The Goldman Sachs Group increased their price target on Revolution Medicines from $65.00 to $73.00 and gave the company a "buy" rating in a report on Friday, September 12th. National Bankshares set a $80.00 price target on Revolution Medicines in a report on Friday, October 17th. Finally, Needham & Company LLC increased their price target on Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $77.50.

Revolution Medicines Price Performance

RVMD stock opened at $52.98 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79. Revolution Medicines has a 1 year low of $29.17 and a 1 year high of $62.40. The firm has a market cap of $9.90 billion, a P/E ratio of -11.77 and a beta of 1.27. The stock has a 50-day simple moving average of $43.48 and a 200-day simple moving average of $39.99.

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

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 13,411 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $614,492.02. Following the transaction, the insider owned 452,309 shares of the company's stock, valued at $20,724,798.38. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jack Anders sold 5,238 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total value of $210,410.46. Following the transaction, the chief financial officer directly owned 113,314 shares in the company, valued at approximately $4,551,823.38. This represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,033 shares of company stock worth $8,456,208 over the last quarter. 8.20% of the stock is owned by corporate insiders.

Institutional Trading of Revolution Medicines

Several hedge funds have recently made changes to their positions in RVMD. Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $232,000 after acquiring an additional 615 shares during the period. Harbor Capital Advisors Inc. increased its position in Revolution Medicines by 64.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company's stock valued at $2,146,000 after acquiring an additional 22,906 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Revolution Medicines in the 1st quarter valued at approximately $502,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Revolution Medicines by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company's stock valued at $3,870,000 after acquiring an additional 6,877 shares during the period. Finally, Atle Fund Management AB increased its position in Revolution Medicines by 49.7% in the 2nd quarter. Atle Fund Management AB now owns 82,275 shares of the company's stock valued at $3,027,000 after acquiring an additional 27,314 shares during the period. Institutional investors own 94.34% of the company's stock.

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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