Wedbush Research Analysts Lower Earnings Estimates for RVMD

Key Points

• Wedbush Research has reduced its FY2029 earnings per share estimate for Revolution Medicines, now forecasting $1.23, down from $1.47, while maintaining an "Outperform" rating and a price target of $77.00.
• Revolution Medicines reported a quarterly EPS of ($1.31), which missed analysts' estimates of ($0.94) by ($0.37), demonstrating ongoing challenges in achieving profitability.
• Institutional investors hold a significant stake in Revolution Medicines, with 94.34% of the company's stock owned by institutional investors and hedge funds.

Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) - Investment analysts at Wedbush decreased their FY2029 earnings per share (EPS) estimates for Revolution Medicines in a research report issued on Thursday, September 11th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings per share of $1.23 for the year, down from their prior forecast of $1.47. Wedbush currently has a "Outperform" rating and a $77.00 price target on the stock. The consensus estimate for Revolution Medicines' current full-year earnings is ($3.49) per share.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted 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 last year, the business earned ($0.81) earnings per share. The company's revenue was up .0% on a year-over-year basis.

A number of other equities analysts also recently commented on the company. Guggenheim restated a "buy" rating and issued a $80.00 price objective on shares of Revolution Medicines in a report on Wednesday, June 25th. Wells Fargo & Company raised their target price on Revolution Medicines from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday. Needham & Company LLC raised their price objective on Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday. Truist Financial started coverage on Revolution Medicines in a research report on Friday, September 5th. They issued a "buy" rating and a $99.00 target price for the company. Finally, Lifesci Capital assumed coverage on Revolution Medicines in a report on Monday, August 18th. They issued an "outperform" rating and a $80.00 price target on the stock. Fourteen 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 target price of $73.21.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $46.24 on Friday. The stock's 50-day moving average is $37.75 and its 200-day moving average is $38.15. The company has a market cap of $8.64 billion, a price-to-earnings ratio of -10.28 and a beta of 1.12. 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 has a 12 month low of $29.17 and a 12 month high of $62.40.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 5,238 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was 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 of the company's stock, valued at $4,551,823.38. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is owned by corporate insiders.

Institutional Trading of Revolution Medicines

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its position in shares of Revolution Medicines by 171.3% in the second quarter. CWM LLC now owns 917 shares of the company's stock worth $34,000 after buying an additional 579 shares during the last quarter. Banque Transatlantique SA bought a new position in Revolution Medicines during the first quarter valued at about $42,000. Quarry LP bought a new position in Revolution Medicines during the first 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 approximately $58,000. Finally, a16z Perennial Management L.P. bought a new stake in shares of Revolution Medicines in the 2nd quarter valued at approximately $67,000. 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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