Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Average Rating of "Buy" from Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has earned an average rating of "Buy" from the twelve research firms that are presently covering the company, MarketBeat reports. Twelve analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $67.08.

A number of research firms have commented on RVMD. Wedbush reissued an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, May 8th. Stifel Nicolaus reduced their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Oppenheimer boosted their price objective on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. HC Wainwright reaffirmed a "buy" rating and set a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Finally, Guggenheim cut their price target on Revolution Medicines from $87.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th.

Insider Activity at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 11,738 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the sale, the insider now owns 441,564 shares in the company, valued at approximately $17,238,658.56. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Margaret A. Horn sold 3,058 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at $5,993,928.32. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,660 shares of company stock worth $650,406. 8.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc bought a new stake in shares of Revolution Medicines in the fourth quarter worth about $34,000. Banque Transatlantique SA bought a new stake in shares of Revolution Medicines in the first quarter worth about $42,000. Quarry LP bought a new stake in shares of Revolution Medicines in the first quarter worth about $50,000. Twin Tree Management LP bought a new stake in shares of Revolution Medicines in the first quarter worth about $58,000. Finally, Sterling Capital Management LLC increased its holdings in shares of Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after acquiring an additional 1,672 shares in the last quarter. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Trading Down 0.5%

RVMD stock traded down $0.20 during trading on Friday, hitting $40.38. The company had a trading volume of 1,468,982 shares, compared to its average volume of 1,526,761. The company has a market cap of $7.52 billion, a P/E ratio of -11.25 and a beta of 1.11. The company has a fifty day moving average price of $37.73 and a two-hundred day moving average price of $41.60. Revolution Medicines has a fifty-two week low of $29.17 and a fifty-two week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same period in the prior year, the business earned ($0.70) earnings per share. On average, analysts expect that Revolution Medicines will post -3.49 earnings per share for the current 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.