Revolution Medicines (NASDAQ:RVMD) PT Raised to $45.00

Revolution Medicines (NASDAQ:RVMD - Get Free Report) had its target price hoisted by Oppenheimer from $43.00 to $45.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Oppenheimer's price objective would indicate a potential upside of 24.76% from the stock's previous close.

Several other brokerages have also recently issued reports on RVMD. Raymond James raised Revolution Medicines from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $36.00 to $48.00 in a research report on Wednesday. Wedbush raised their target price on Revolution Medicines from $41.00 to $42.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 27th. UBS Group initiated coverage on Revolution Medicines in a research note on Wednesday, December 20th. They issued a "buy" rating and a $40.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $46.00 price objective (up previously from $36.00) on shares of Revolution Medicines in a research note on Monday. Finally, Bank of America raised Revolution Medicines from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $31.00 to $34.00 in a research note on Friday, January 5th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $41.20.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock traded down $1.34 during trading on Friday, hitting $36.07. 1,634,579 shares of the company's stock traded hands, compared to its average volume of 1,402,769. Revolution Medicines has a 1 year low of $15.44 and a 1 year high of $38.73. The stock has a market capitalization of $5.94 billion, a P/E ratio of -9.92 and a beta of 1.54. The business has a 50-day simple moving average of $30.98 and a 200-day simple moving average of $27.27.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The company had revenue of $0.74 million during the quarter, compared to the consensus estimate of $1.20 million. During the same quarter in the previous year, the business earned ($0.63) earnings per share. Revolution Medicines's revenue was down 95.2% compared to the same quarter last year. On average, equities analysts predict that Revolution Medicines will post -3.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Revolution Medicines news, General Counsel Jeff Cislini sold 1,500 shares of the company's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $27.00, for a total value of $40,500.00. Following the completion of the sale, the general counsel now directly owns 36,126 shares in the company, valued at approximately $975,402. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Jack Anders sold 1,261 shares of the business's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $39,822.38. Following the completion of the transaction, the chief financial officer now directly owns 101,959 shares of the company's stock, valued at approximately $3,219,865.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Jeff Cislini sold 1,500 shares of the business's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $27.00, for a total value of $40,500.00. Following the completion of the transaction, the general counsel now directly owns 36,126 shares of the company's stock, valued at $975,402. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,205 shares of company stock worth $671,249. 8.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Revolution Medicines by 51.8% during the 4th quarter. Vanguard Group Inc. now owns 14,634,391 shares of the company's stock valued at $419,714,000 after buying an additional 4,990,800 shares in the last quarter. Wellington Management Group LLP increased its position in Revolution Medicines by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company's stock valued at $426,818,000 after buying an additional 4,309,611 shares in the last quarter. BVF Inc. IL increased its position in Revolution Medicines by 50.2% during the 4th quarter. BVF Inc. IL now owns 5,981,212 shares of the company's stock valued at $171,541,000 after buying an additional 2,000,000 shares in the last quarter. Nextech Invest Ltd. increased its position in Revolution Medicines by 30.1% during the 4th quarter. Nextech Invest Ltd. now owns 6,296,740 shares of the company's stock valued at $180,591,000 after buying an additional 1,457,211 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Revolution Medicines by 36.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,035,179 shares of the company's stock valued at $109,063,000 after buying an additional 1,355,137 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

About Revolution Medicines

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.