Brokerages Set Revolution Medicines, Inc. (NASDAQ:RVMD) PT at $72.00

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.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has been given a consensus rating of "Buy" by the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $73.6667.

Several equities research analysts have issued reports on RVMD shares. Piper Sandler initiated coverage on shares of Revolution Medicines in a report on Monday, August 18th. They issued an "overweight" rating and a $75.00 price target on the stock. Truist Financial initiated coverage on shares of Revolution Medicines in a research report on Friday, September 5th. They set a "buy" rating and a $99.00 price target on the stock. Raymond James Financial initiated coverage on Revolution Medicines in a report on Friday. They set a "strong-buy" rating and a $72.00 price objective for the company. Needham & Company LLC lifted their price objective on shares of Revolution Medicines from $56.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price objective on Revolution Medicines from $67.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD traded up $0.31 during trading on Tuesday, reaching $46.55. The stock had a trading volume of 3,632,213 shares, compared to its average volume of 1,873,654. Revolution Medicines has a 52 week low of $29.17 and a 52 week high of $62.40. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of -10.34 and a beta of 1.12. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $37.94 and a two-hundred day simple moving average of $38.17.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). During the same quarter in the prior year, the company earned ($0.81) EPS. The business's quarterly revenue was up .0% on a year-over-year basis. As a group, analysts anticipate that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Revolution Medicines news, CFO Jack Anders sold 5,238 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total transaction 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 $4,551,823.38. This represents a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Revolution Medicines by 11.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock worth $232,000 after buying an additional 615 shares during the last quarter. SG Americas Securities LLC boosted its position in Revolution Medicines by 516.0% during 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 during the last quarter. Granahan Investment Management LLC grew its stake in Revolution Medicines by 6.1% in the first quarter. Granahan Investment Management LLC now owns 126,752 shares of the company's stock valued at $4,482,000 after purchasing an additional 7,322 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Revolution Medicines by 349.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company's stock worth $160,000 after purchasing an additional 3,518 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Revolution Medicines during the 1st quarter worth approximately $2,094,000. Institutional investors and hedge funds own 94.34% of the company's stock.

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.