What is HC Wainwright’s Estimate for RVMD FY2024 Earnings?

Revolution Medicines, Inc. (NASDAQ:RVMD) – Stock analysts at HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for Revolution Medicines in a report issued on Thursday, November 7th. HC Wainwright analyst R. Burns now forecasts that the company will post earnings of ($3.44) per share for the year, down from their prior estimate of ($3.38). HC Wainwright currently has a “Buy” rating and a $64.00 target price on the stock. The consensus estimate for Revolution Medicines’ current full-year earnings is ($3.42) per share. HC Wainwright also issued estimates for Revolution Medicines’ Q4 2024 earnings at ($0.99) EPS, Q1 2025 earnings at ($1.01) EPS, Q2 2025 earnings at ($1.03) EPS, Q3 2025 earnings at ($1.04) EPS, Q4 2025 earnings at ($1.06) EPS and FY2025 earnings at ($4.14) EPS.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter last year, the company posted ($0.99) EPS.

RVMD has been the topic of a number of other research reports. Piper Sandler raised their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC boosted their price objective on Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Bank of America lifted their target price on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Wedbush reissued an “outperform” rating and issued a $59.00 price target on shares of Revolution Medicines in a report on Thursday, August 8th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $61.00.

Revolution Medicines Trading Down 2.1 %

RVMD stock opened at $59.33 on Monday. The firm’s 50-day moving average is $47.92 and its two-hundred day moving average is $43.45. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of -16.88 and a beta of 1.40. Revolution Medicines has a 52 week low of $19.05 and a 52 week high of $62.40.

Insider Buying and Selling at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.36, for a total value of $1,510,800.00. Following the completion of the sale, the insider now directly owns 300,170 shares of the company’s stock, valued at $15,116,561.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Mark A. Goldsmith sold 30,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.36, for a total value of $1,510,800.00. Following the transaction, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $15,116,561.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.30, for a total value of $503,000.00. Following the sale, the chief financial officer now directly owns 98,932 shares of the company’s stock, valued at approximately $4,976,279.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,866 shares of company stock valued at $6,355,624 in the last 90 days. 8.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after buying an additional 222 shares during the last quarter. Headlands Technologies LLC raised its stake in shares of Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after acquiring an additional 885 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Revolution Medicines in the 3rd quarter worth approximately $93,000. Allspring Global Investments Holdings LLC bought a new stake in Revolution Medicines during the first quarter worth approximately $104,000. Finally, EntryPoint Capital LLC bought a new stake in Revolution Medicines during the first quarter worth approximately $107,000. 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.