Revolution Medicines (RVMD) Set to Announce Earnings on Wednesday

Revolution Medicines (NASDAQ:RVMD - Get Free Report) will issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.75) per share for the quarter.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.29). The business had revenue of $0.74 million during the quarter, compared to analysts' expectations of $1.20 million. During the same quarter last year, the company posted ($0.63) earnings per share. Revolution Medicines's quarterly revenue was down 95.2% on a year-over-year basis. On average, analysts expect Revolution Medicines to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Revolution Medicines Price Performance

NASDAQ RVMD traded up $0.37 on Thursday, reaching $39.19. The stock had a trading volume of 1,218,524 shares, compared to its average volume of 1,369,087. The firm has a fifty day moving average of $33.04 and a two-hundred day moving average of $28.30. Revolution Medicines has a 1-year low of $15.44 and a 1-year high of $39.60. The company has a market cap of $6.68 billion, a P/E ratio of -10.40 and a beta of 1.46.

Analyst Ratings Changes

RVMD has been the topic of a number of research reports. Raymond James raised Revolution Medicines from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $36.00 to $48.00 in a report on Wednesday, April 10th. Piper Sandler initiated coverage on Revolution Medicines in a report on Monday, March 11th. They set an "overweight" rating and a $43.00 target price on the stock. Oppenheimer increased their target price on Revolution Medicines from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, April 12th. Needham & Company LLC reissued a "buy" rating and set a $46.00 target price (up from $36.00) on shares of Revolution Medicines in a report on Monday, April 8th. Finally, Bank of America raised Revolution Medicines from a "neutral" rating to a "buy" rating and increased their target price for the stock from $31.00 to $34.00 in a report on Friday, January 5th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $41.20.

Insider Buying and Selling

In related news, General Counsel Jeff Cislini sold 1,252 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the sale, the general counsel now directly owns 55,874 shares in the company, valued at approximately $1,764,500.92. The sale was disclosed in a filing with the SEC, which is available through this link. In other Revolution Medicines news, CFO Jack Anders sold 1,261 shares of the stock in a transaction dated 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 in the company, valued at $3,219,865.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jeff Cislini sold 1,252 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total value of $39,538.16. Following the completion of the transaction, the general counsel now owns 55,874 shares of the company's stock, valued at $1,764,500.92. The disclosure for this sale can be found here. Insiders sold a total of 18,705 shares of company stock worth $630,749 in the last ninety days. 8.50% of the stock is owned by insiders.

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.