Revolution Medicines' (RVMD) Outperform Rating Reiterated at Wedbush

Key Points

• Revolution Medicines received an "outperform" rating from Wedbush, with a price target of $77.00, suggesting a potential upside of 54.99% from its current price.
• The company's earnings report indicated a loss of ($1.31) per share, missing estimates, while revenues showed a slight increase compared to the previous year.
• Institutional investors hold approximately 94.34% of the company's stock, indicating strong institutional interest and confidence in Revolution Medicines.

Revolution Medicines (NASDAQ:RVMD - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Wedbush in a report released on Friday,Benzinga reports. They presently have a $77.00 price target on the stock. Wedbush's target price would suggest a potential upside of 54.99% from the company's current price.

Other equities analysts also recently issued reports about the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a research note on Wednesday, October 8th. Stifel Nicolaus initiated coverage on shares of Revolution Medicines in a research note on Wednesday. They issued a "buy" rating and a $85.00 price target on the stock. Truist Financial started coverage on shares of Revolution Medicines in a research note on Friday, September 5th. They issued a "buy" rating and a $99.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of Revolution Medicines from $65.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Finally, Raymond James Financial started coverage on shares of Revolution Medicines in a research note on Friday, September 12th. They set a "strong-buy" rating and a $72.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.14.

Revolution Medicines Price Performance

Shares of RVMD opened at $49.68 on Friday. The firm has a market capitalization of $9.29 billion, a PE ratio of -11.04 and a beta of 1.27. The company's 50-day moving average is $42.01 and its 200-day moving average is $39.42. Revolution Medicines has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.37). The firm's revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.81) EPS. Equities analysts forecast that Revolution Medicines will post -3.49 EPS for the current year.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 4,775 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $218,790.50. Following the completion of the transaction, the chief operating officer owned 145,900 shares in the company, valued at $6,685,138. This trade represents a 3.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack Anders sold 5,238 shares of the firm'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 transaction, the chief financial officer 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 disclosure for this sale can be found here. Insiders have sold 188,033 shares of company stock worth $8,456,208 over the last quarter. 8.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position 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 period. Harbor Capital Advisors Inc. grew its position in Revolution Medicines by 64.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company's stock valued at $2,146,000 after purchasing an additional 22,906 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Revolution Medicines in the 1st quarter valued at $502,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Revolution Medicines by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company's stock valued at $3,870,000 after purchasing an additional 6,877 shares during the period. Finally, Atle Fund Management AB boosted its holdings in Revolution Medicines by 49.7% during the 2nd quarter. Atle Fund Management AB now owns 82,275 shares of the company's stock worth $3,027,000 after acquiring an additional 27,314 shares during the last quarter. Institutional investors 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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