Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $41.20 Average Target Price from Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has earned an average recommendation of "Buy" from the ten research firms that are covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $41.20.

Several analysts have recently issued reports on RVMD shares. Needham & Company LLC reiterated a "buy" rating and issued a $46.00 price objective (up from $36.00) on shares of Revolution Medicines in a research note on Monday, April 8th. Oppenheimer increased their price objective on Revolution Medicines from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, April 12th. Piper Sandler started coverage on Revolution Medicines in a research note on Monday, March 11th. They issued an "overweight" rating and a $43.00 price objective on the stock. Wedbush increased their price objective on Revolution Medicines from $41.00 to $42.00 and gave the company an "outperform" rating in a research note on Tuesday, February 27th. Finally, Raymond James upgraded Revolution Medicines from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $36.00 to $48.00 in a research note on Wednesday, April 10th.

Insider Transactions at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 7,500 shares of Revolution Medicines stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $35.48, for a total transaction of $266,100.00. Following the sale, the insider now owns 452,879 shares in the company, valued at $16,068,146.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sushil Patel sold 2,155 shares of the firm's stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total transaction of $79,735.00. Following the transaction, the director now owns 15,700 shares of the company's stock, valued at $580,900. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark A. Goldsmith sold 7,500 shares of the firm's stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $35.48, for a total value of $266,100.00. Following the transaction, the insider now directly owns 452,879 shares in the company, valued at approximately $16,068,146.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,705 shares of company stock worth $630,749. Corporate insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in shares of Revolution Medicines by 2.7% during the third quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company's stock worth $292,646,000 after buying an additional 282,786 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Revolution Medicines by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company's stock valued at $266,935,000 after purchasing an additional 303,088 shares in the last quarter. Walleye Capital LLC purchased a new stake in Revolution Medicines in the 3rd quarter valued at approximately $2,644,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Revolution Medicines by 45.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,405 shares of the company's stock valued at $2,306,000 after purchasing an additional 25,160 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Revolution Medicines by 392.5% in the 3rd quarter. Victory Capital Management Inc. now owns 342,359 shares of the company's stock valued at $9,476,000 after purchasing an additional 272,848 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Performance

Shares of RVMD traded up $0.63 during midday trading on Friday, hitting $35.96. 1,213,741 shares of the stock were exchanged, compared to its average volume of 1,333,327. Revolution Medicines has a 52-week low of $15.44 and a 52-week high of $38.73. The stock has a fifty day simple moving average of $32.33 and a 200 day simple moving average of $27.99. The firm has a market cap of $5.92 billion, a P/E ratio of -9.54 and a beta of 1.54.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The firm had revenue of $0.74 million during the quarter, compared to analyst estimates of $1.20 million. During the same period in the prior year, the company posted ($0.63) EPS. The firm's revenue for the quarter was down 95.2% on a year-over-year basis. As a group, equities research analysts forecast that Revolution Medicines will post -3.18 EPS for the current fiscal year.

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.