Revolution Medicines, Inc. (NASDAQ:RVMD) Given Average Rating of "Buy" by Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has been assigned a consensus rating of "Buy" from the twelve brokerages that are presently covering the firm, Marketbeat reports. Twelve equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $67.08.

Several equities research analysts have recently issued reports on RVMD shares. Guggenheim decreased their price target on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. HC Wainwright reissued a "buy" rating and issued a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Oppenheimer boosted their price objective on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Stifel Nicolaus cut their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $57.00 target price on shares of Revolution Medicines in a research note on Thursday, May 8th.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 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 $119,384.32. Following the transaction, the chief operating officer now directly owns 153,533 shares in the company, valued at $5,993,928.32. This represents a 1.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the firm'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 $72,770.56. Following the completion of the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,660 shares of company stock valued at $650,406. Corporate insiders own 8.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RVMD. Vanguard Group Inc. lifted its position in Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after purchasing an additional 2,185,082 shares during the last quarter. Farallon Capital Management LLC lifted its holdings in shares of Revolution Medicines by 17.1% during the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock worth $579,498,000 after acquiring an additional 1,931,000 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Revolution Medicines by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company's stock worth $416,821,000 after acquiring an additional 966,230 shares during the last quarter. Janus Henderson Group PLC grew its position in Revolution Medicines by 54.5% in the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock worth $414,777,000 after acquiring an additional 3,346,755 shares in the last quarter. Finally, Baker BROS. Advisors LP increased its stake in Revolution Medicines by 4.9% in the fourth quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock valued at $347,163,000 after acquiring an additional 367,882 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Up 0.3%

RVMD stock traded up $0.13 during midday trading on Friday, hitting $40.78. The company's stock had a trading volume of 997,255 shares, compared to its average volume of 1,519,849. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of -11.36 and a beta of 1.11. The stock's 50-day moving average price is $37.62 and its 200 day moving average price is $41.61. Revolution Medicines has a 1 year low of $29.17 and a 1 year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results 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 company posted ($0.70) earnings per share. As a group, equities analysts forecast that Revolution Medicines will post -3.49 earnings per share 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.