Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $87.00 at Guggenheim

Revolution Medicines (NASDAQ:RVMD) had its target price upped by Guggenheim from $82.00 to $87.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently weighed in on the company. Piper Sandler upped their target price on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. HC Wainwright upped their price target on Revolution Medicines from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $68.00 price objective on shares of Revolution Medicines in a research report on Tuesday. Barclays boosted their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $63.00.

Revolution Medicines Stock Down 6.9 %

NASDAQ:RVMD opened at $48.23 on Tuesday. The firm’s fifty day simple moving average is $52.15 and its 200 day simple moving average is $45.50. The stock has a market cap of $8.11 billion, a P/E ratio of -13.43 and a beta of 1.40. Revolution Medicines has a twelve month low of $23.38 and a twelve month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period in the previous year, the firm earned ($0.99) EPS. On average, analysts expect that Revolution Medicines will post -3.51 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the transaction, the director now owns 13,065 shares in the company, valued at approximately $627,381.30. This represents a 28.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the sale, the insider now directly owns 300,170 shares in the company, valued at approximately $13,486,638.10. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,866 shares of company stock worth $6,355,624. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in Revolution Medicines by 17.5% during the 2nd quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock valued at $416,000 after buying an additional 1,601 shares during the last quarter. Clear Harbor Asset Management LLC increased its position in Revolution Medicines by 10.2% during the second quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock valued at $436,000 after acquiring an additional 1,036 shares during the last quarter. Raymond James & Associates lifted its holdings in Revolution Medicines by 196.4% in the second quarter. Raymond James & Associates now owns 74,370 shares of the company’s stock valued at $2,886,000 after acquiring an additional 49,275 shares during the period. Nisa Investment Advisors LLC boosted its position in Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after purchasing an additional 320 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Revolution Medicines by 21.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 645,253 shares of the company’s stock valued at $25,042,000 after purchasing an additional 115,844 shares during the period. Institutional investors 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.