Revolution Medicines (NASDAQ:RVMD) Given "Outperform" Rating at Wedbush

Revolution Medicines (NASDAQ:RVMD - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Wedbush in a report issued on Monday,Benzinga reports. They presently have a $67.00 price objective on the stock. Wedbush's price objective points to a potential upside of 62.91% from the company's current price.

RVMD has been the topic of a number of other reports. Needham & Company LLC restated a "buy" rating and issued a $59.00 target price on shares of Revolution Medicines in a report on Tuesday, April 8th. UBS Group lifted their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. HC Wainwright increased their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Finally, Stifel Nicolaus lowered their target price on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $66.67.

Revolution Medicines Price Performance

NASDAQ RVMD traded up $2.36 during trading hours on Monday, hitting $41.13. The company's stock had a trading volume of 322,748 shares, compared to its average volume of 1,427,672. The company's 50 day simple moving average is $37.43 and its two-hundred day simple moving average is $44.01. Revolution Medicines has a 12 month low of $29.17 and a 12 month high of $62.40. The company has a market cap of $7.65 billion, a P/E ratio of -11.47 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, research analysts predict that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Transactions at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,738 shares of the business'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 $458,251.52. Following the transaction, the insider now directly owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jack Anders sold 1,864 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the sale, the chief financial officer now owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 in the last ninety days. 8.00% of the stock is currently owned by company insiders.

Institutional Trading of Revolution Medicines

A number of large investors have recently modified their holdings of RVMD. Barclays PLC boosted its position in shares of Revolution Medicines by 187.1% during the 3rd quarter. Barclays PLC now owns 294,664 shares of the company's stock valued at $13,362,000 after purchasing an additional 192,021 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Revolution Medicines in the third quarter worth approximately $801,000. Lord Abbett & CO. LLC acquired a new position in Revolution Medicines during the third quarter worth $83,082,000. Everence Capital Management Inc. bought a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $203,000. Finally, Avanza Fonder AB acquired a new stake in shares of Revolution Medicines in the fourth quarter worth $173,000. Institutional investors and hedge funds own 94.34% of the company's stock.

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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