Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $66.67 Consensus Price Target from Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has earned an average rating of "Buy" from the twelve brokerages that are currently covering the company, MarketBeat.com reports. Twelve analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have covered the stock in the last year is $67.17.

A number of research firms have recently commented on RVMD. Oppenheimer increased their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday. Needham & Company LLC reissued a "buy" rating and set a $57.00 price target on shares of Revolution Medicines in a research report on Thursday. Guggenheim dropped their target price on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday. HC Wainwright raised their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Finally, Stifel Nicolaus dropped their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st.

Insider Transactions at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the transaction, the chief operating officer now owns 153,533 shares of the company's stock, valued at $5,993,928.32. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,660 shares of company stock valued at $650,406. Company insiders own 8.00% of the company's stock.

Hedge Funds Weigh In On Revolution Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted 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 worth $747,799,000 after acquiring an additional 2,185,082 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after purchasing an additional 1,931,000 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Revolution Medicines by 54.5% in the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock valued at $414,777,000 after purchasing an additional 3,346,755 shares during the last quarter. Baker BROS. Advisors LP lifted its holdings in shares of Revolution Medicines by 4.9% in the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock worth $347,163,000 after acquiring an additional 367,882 shares during the last quarter. Finally, Nextech Invest Ltd. increased its stake in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after buying an additional 1,304,347 shares during the period. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Up 4.2%

Shares of NASDAQ:RVMD traded up $1.69 during midday trading on Wednesday, hitting $42.11. 81,945 shares of the stock traded hands, compared to its average volume of 1,485,949. The stock has a market capitalization of $7.84 billion, a PE ratio of -11.67 and a beta of 1.11. The business's 50 day moving average is $37.36 and its two-hundred day moving average is $43.39. Revolution Medicines has a one year low of $29.17 and a one year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter last year, the company earned ($0.70) EPS. As a group, sell-side analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current year.

About Revolution Medicines

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.