Revolution Medicines (NASDAQ:RVMD) Now Covered by Analysts at Truist Financial

Key Points

• Revolution Medicines received a "buy" rating and a price target of $99.00 from Truist Financial, indicating a potential upside of 154.17% from its previous close.
• A total of fourteen research analysts have rated Revolution Medicines with a "Buy" rating and an average target price of $72.00.
• Recently, the company reported a loss of ($1.31) EPS for the last quarter, missing consensus estimates, with revenue up only slightly year-over-year.

Truist Financial initiated coverage on shares of Revolution Medicines (NASDAQ:RVMD - Free Report) in a report published on Friday, MarketBeat Ratings reports. The firm issued a buy rating and a $99.00 target price on the stock.

A number of other equities analysts have also weighed in on the stock. HC Wainwright restated a "buy" rating and set a $72.00 price target (down from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Wells Fargo & Company started coverage on shares of Revolution Medicines in a research report on Friday, August 15th. They set an "overweight" rating and a $67.00 price target on the stock. Lifesci Capital began coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They set an "outperform" rating and a $80.00 price target on the stock. Piper Sandler began coverage on shares of Revolution Medicines in a report on Monday, August 18th. They issued an "overweight" rating and a $75.00 target price on the stock. Finally, Guggenheim reiterated a "buy" rating and issued a $80.00 target price on shares of Revolution Medicines in a report on Wednesday, June 25th. Fourteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Revolution Medicines presently has a consensus rating of "Buy" and an average price target of $72.00.

Revolution Medicines Price Performance

RVMD traded up $1.55 on Friday, reaching $40.50. 1,705,576 shares of the company's stock were exchanged, compared to its average volume of 1,847,927. The stock has a market cap of $7.57 billion, a PE ratio of -9.00 and a beta of 1.12. Revolution Medicines has a twelve month low of $29.17 and a twelve month high of $62.40. The stock's fifty day moving average price is $37.33 and its 200-day moving average price is $38.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). Revolution Medicines's revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.81) EPS. Sell-side analysts expect that Revolution Medicines will post -3.49 EPS for the current year.

Insider Activity

In other news, CFO Jack Anders sold 5,238 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total value of $210,410.46. Following the sale, the chief financial officer directly owned 113,314 shares of the company's stock, valued at approximately $4,551,823.38. The trade was a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.20% of the company's stock.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Revolution Medicines by 11.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock valued at $232,000 after acquiring an additional 615 shares during the period. SG Americas Securities LLC raised its stake in shares of Revolution Medicines by 516.0% in the 1st quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock valued at $640,000 after acquiring an additional 15,164 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Revolution Medicines by 349.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company's stock valued at $160,000 after acquiring an additional 3,518 shares during the period. Lunate Capital Ltd purchased a new stake in shares of Revolution Medicines in the 1st quarter valued at approximately $77,658,000. Finally, MPM Bioimpact LLC raised its stake in shares of Revolution Medicines by 7.7% in the 4th quarter. MPM Bioimpact LLC now owns 313,817 shares of the company's stock valued at $13,726,000 after acquiring an additional 22,426 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

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.