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

Key Points

• Revolution Medicines has a consensus analyst rating of "Buy" from 22 brokerages, with an average 1-year price target of about $135.39.
• Several firms recently raised their targets, including Needham to $235 and Guggenheim to $205, while Weiss Ratings maintained a sell rating.
• Insiders have been selling shares recently, with director Sushil Patel and insider Stephen Michael Kelsey among those reducing holdings; insiders sold 252,497 shares over the last 90 days.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has been assigned an average rating of "Buy" from the twenty-two brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $135.3889.

Several brokerages have issued reports on RVMD. Needham & Company LLC raised their price target on Revolution Medicines from $183.00 to $235.00 and gave the company a "buy" rating in a report on Monday, June 29th. Guggenheim upped their price objective on shares of Revolution Medicines to $205.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Piper Sandler increased their price objective on shares of Revolution Medicines to $172.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group started coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They set a "buy" rating for the company.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the sale, the director directly owned 21,656 shares in the company, valued at $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 4,175 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the sale, the insider owned 291,876 shares of the company's stock, valued at approximately $45,567,681.12. This represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 252,497 shares of company stock worth $39,481,286. 7.60% of the stock is currently owned by insiders.

Institutional Trading of Revolution Medicines

Institutional investors have recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. increased its position in Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company's stock worth $401,000 after buying an additional 120 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock valued at $802,000 after acquiring an additional 125 shares during the period. Deutsche Bank AG boosted its position in shares of Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company's stock valued at $2,566,000 after acquiring an additional 130 shares during the period. Signaturefd LLC grew its stake in shares of Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company's stock valued at $52,000 after acquiring an additional 163 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company's stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $189.24 on Monday. The business's 50 day moving average price is $156.00 and its two-hundred day moving average price is $120.84. The company has a market cap of $40.23 billion, a PE ratio of -26.77 and a beta of 1.37. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines has a twelve month low of $34.00 and a twelve month high of $193.10.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the business earned ($1.13) earnings per share. On average, analysts predict that Revolution Medicines will post -7.94 EPS for the current year.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company's research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.

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