The Goldman Sachs Group Forecasts Strong Price Appreciation for Revolution Medicines (NASDAQ:RVMD) Stock

Key Points

• Goldman Sachs raised its price target for Revolution Medicines (NASDAQ:RVMD) from $65.00 to $73.00, indicating a potential upside of 58.01% from the previous close.
• Revolution Medicines has received several upgrades from analysts, with estimates ranging from $66.00 to $80.00, and the company holds a consensus rating of "Buy".
• As of the latest trading, RVMD shares are priced at $46.20, showing a 0.1% decrease, and the company has a market cap of $8.64 billion.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) had its price target hoisted by analysts at The Goldman Sachs Group from $65.00 to $73.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 58.01% from the company's previous close.

Several other analysts have also weighed in on RVMD. Needham & Company LLC increased their target price on shares of Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday. Piper Sandler started coverage on Revolution Medicines in a research report on Monday, August 18th. They set an "overweight" rating and a $75.00 price objective for the company. Lifesci Capital started coverage on Revolution Medicines in a research report on Monday, August 18th. They set an "outperform" rating and a $80.00 price objective for the company. Raymond James Financial started coverage on Revolution Medicines in a research report on Friday. They set a "strong-buy" rating and a $72.00 price objective for the company. Finally, Wedbush increased their price objective on Revolution Medicines from $73.00 to $77.00 and gave the company an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat.com, Revolution Medicines has a consensus rating of "Buy" and a consensus target price of $73.67.

Revolution Medicines Stock Down 0.1%

Shares of RVMD traded down $0.04 during midday trading on Friday, hitting $46.20. The company had a trading volume of 1,338,753 shares, compared to its average volume of 1,880,676. The company's 50 day moving average price is $37.75 and its 200 day moving average price is $38.15. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of -10.28 and a beta of 1.12. Revolution Medicines has a 52 week low of $29.17 and a 52 week high of $62.40. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data 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). During the same quarter last year, the company earned ($0.81) EPS. The company's quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts predict that Revolution Medicines will post -3.49 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In related news, CFO Jack Anders sold 5,238 shares of the stock in a transaction dated 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 sale, the chief financial officer owned 113,314 shares in the company, valued at approximately $4,551,823.38. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.20% of the company's stock.

Institutional Trading of Revolution Medicines

A number of large investors have recently bought and sold shares of the stock. CWM LLC raised its holdings in shares of Revolution Medicines by 171.3% in the second quarter. CWM LLC now owns 917 shares of the company's stock valued at $34,000 after buying an additional 579 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Revolution Medicines in the 1st quarter valued at about $42,000. Quarry LP bought a new position in shares of Revolution Medicines in the first quarter worth about $50,000. Twin Tree Management LP acquired a new position in shares of Revolution Medicines during the first quarter worth approximately $58,000. Finally, a16z Perennial Management L.P. bought a new stake in shares of Revolution Medicines during the second quarter valued at approximately $67,000. 94.34% of the stock is currently owned by institutional investors.

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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