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

Key Points

• Revolution Medicines, Inc. has received a consensus rating of "Buy" from fourteen analysts, with an average price target of $72.00 per share.
• The company recently reported a quarterly loss of ($1.31) earnings per share, missing the consensus estimate, while its revenue showed a slight year-over-year increase.
• Insider trading activity includes the CFO selling 5,238 shares at an average price of $40.17, reducing their holdings by 4.42% to approximately $4.55 million.

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) have been given an average recommendation of "Buy" by the fourteen analysts that are covering the company, MarketBeat.com reports. Fourteen equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $72.00.

RVMD has been the subject of several analyst reports. Truist Financial assumed coverage on Revolution Medicines in a report on Friday. They issued a "buy" rating and a $99.00 price objective for the company. Guggenheim reaffirmed a "buy" rating and issued a $80.00 price target on shares of Revolution Medicines in a report on Wednesday, June 25th. Needham & Company LLC reduced their price target on Revolution Medicines from $57.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Lifesci Capital assumed coverage on Revolution Medicines in a report on Monday, August 18th. They issued an "outperform" rating and a $80.00 price target for the company. Finally, Piper Sandler assumed coverage on Revolution Medicines in a report on Monday, August 18th. They issued an "overweight" rating and a $75.00 price target for the company.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $41.06 on Tuesday. The stock has a market cap of $7.68 billion, a PE ratio of -9.12 and a beta of 1.12. The business has a 50-day simple moving average of $37.42 and a 200-day simple moving average of $38.08. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13. Revolution Medicines has a 52-week low of $29.17 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.37). The company's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the business earned ($0.81) earnings per share. On average, equities analysts expect that Revolution Medicines will post -3.49 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Jack Anders sold 5,238 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total value of $210,410.46. Following the completion of the transaction, the chief financial officer owned 113,314 shares of the company's stock, valued at approximately $4,551,823.38. This represents a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.20% of the company's stock.

Institutional Investors Weigh In On Revolution Medicines

Several large investors have recently bought and sold shares of RVMD. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Revolution Medicines by 11.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock valued at $232,000 after purchasing an additional 615 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Revolution Medicines by 516.0% in the first quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock valued at $640,000 after purchasing an additional 15,164 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Revolution Medicines by 349.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company's stock valued at $160,000 after purchasing an additional 3,518 shares in the last quarter. Lunate Capital Ltd purchased a new stake in shares of Revolution Medicines in the first quarter valued at approximately $77,658,000. Finally, MPM Bioimpact LLC grew its position in shares of Revolution Medicines by 7.7% in the fourth quarter. MPM Bioimpact LLC now owns 313,817 shares of the company's stock valued at $13,726,000 after purchasing an additional 22,426 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

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.

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