Revolution Medicines (NASDAQ:RVMD) Coverage Initiated at Raymond James Financial

Key Points

• Revolution Medicines' stock has received a "strong-buy" rating from Raymond James Financial, with a target price of $72.00, suggesting a potential upside of 55.71% from its previous close.
• The company has recorded a market capitalization of $8.64 billion and showed a significant yearly revenue increase, despite reporting a quarterly EPS loss that was greater than analysts' expectations.
• Insiders hold 8.20% of the company's stock, with recent transactions indicating a notable activity among the company's executives including the CFO selling shares.

Raymond James Financial assumed coverage on shares of Revolution Medicines (NASDAQ:RVMD - Free Report) in a report issued on Friday, Marketbeat.com reports. The brokerage issued a strong-buy rating and a $72.00 target price on the stock.

A number of other equities research analysts also recently commented on RVMD. Truist Financial began coverage on Revolution Medicines in a research report on Friday, September 5th. They set a "buy" rating and a $99.00 price objective for the company. Needham & Company LLC increased their price objective on Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Guggenheim restated a "buy" rating and issued a $80.00 target price on shares of Revolution Medicines in a report on Wednesday, June 25th. Lifesci Capital initiated coverage on Revolution Medicines in a report on Monday, August 18th. They issued an "outperform" rating and a $80.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on Revolution Medicines in a report on Tuesday, July 15th. They issued a "buy" rating and a $65.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $73.67.

Revolution Medicines Price Performance

Shares of RVMD stock traded up $0.26 during mid-day trading on Friday, hitting $44.96. 899,723 shares of the stock traded hands, compared to its average volume of 1,893,645. Revolution Medicines has a twelve month low of $29.17 and a twelve month high of $62.40. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of -10.01 and a beta of 1.12. The company's 50-day simple moving average is $38.30 and its 200-day simple moving average is $38.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data 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 business posted ($0.81) earnings per share. The business's revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities research analysts expect that Revolution Medicines will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Jack Anders sold 5,238 shares of Revolution Medicines 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 completion of the transaction, the chief financial officer owned 113,314 shares in the company, valued at approximately $4,551,823.38. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Michael Kelsey sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $44.08, for a total transaction of $4,408,000.00. Following the completion of the transaction, the insider owned 289,414 shares of the company's stock, valued at $12,757,369.12. This trade represents a 25.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 135,000 shares of company stock valued at $5,958,236 in the last quarter. 8.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolution Medicines

A number of institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings in shares of Revolution Medicines by 171.3% in the 2nd quarter. CWM LLC now owns 917 shares of the company's stock valued at $34,000 after buying an additional 579 shares during the period. Banque Transatlantique SA bought a new stake in Revolution Medicines during the 1st quarter worth about $42,000. Quarry LP bought a new stake in shares of Revolution Medicines in the 1st quarter valued at about $50,000. Twin Tree Management LP bought a new stake in shares of Revolution Medicines in the 1st quarter valued at about $58,000. Finally, a16z Perennial Management L.P. bought a new position in Revolution Medicines in the 2nd quarter valued at about $67,000. 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.