Revolution Medicines (NASDAQ:RVMD) Releases Earnings Results, Beats Estimates By $0.05 EPS

Revolution Medicines (NASDAQ:RVMD - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.70) earnings per share for the quarter, topping analysts' consensus estimates of ($0.75) by $0.05, Briefing.com reports. During the same quarter in the previous year, the firm posted ($0.72) earnings per share. The firm's quarterly revenue was down 100.0% on a year-over-year basis.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD traded down $0.86 during midday trading on Thursday, hitting $37.45. 1,234,636 shares of the company's stock traded hands, compared to its average volume of 1,351,405. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -9.93 and a beta of 1.46. The firm has a fifty day moving average of $33.75 and a 200 day moving average of $28.52. Revolution Medicines has a 1 year low of $15.44 and a 1 year high of $40.21.

Analyst Ratings Changes

A number of research analysts recently weighed in on RVMD shares. Raymond James raised Revolution Medicines from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $36.00 to $48.00 in a research report on Wednesday, April 10th. Wedbush upped their price target on shares of Revolution Medicines from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Thursday. Needham & Company LLC reissued a "buy" rating and set a $46.00 price objective on shares of Revolution Medicines in a research report on Thursday. Oppenheimer upped their target price on shares of Revolution Medicines from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, April 12th. Finally, Piper Sandler assumed coverage on shares of Revolution Medicines in a research report on Monday, March 11th. They set an "overweight" rating and a $43.00 price target for the company. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $41.60.

Insiders Place Their Bets

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the business's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the completion of the sale, the chief financial officer now owns 101,959 shares of the company's stock, valued at $4,081,418.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the firm's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the sale, the chief financial officer now directly owns 101,959 shares of the company's stock, valued at $4,081,418.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Margaret A. Horn sold 2,914 shares of the company's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $92,024.12. Following the completion of the transaction, the chief operating officer now directly owns 139,553 shares of the company's stock, valued at approximately $4,407,083.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,705 shares of company stock worth $1,031,049. Company insiders own 8.50% 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.