Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Consensus Rating of “Buy” from Analysts

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have received an average rating of “Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Twelve analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $66.31.

RVMD has been the subject of a number of research reports. HC Wainwright increased their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Guggenheim increased their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. UBS Group upped their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Stifel Nicolaus cut their price objective on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, February 27th.

Revolution Medicines Trading Down 1.0 %

RVMD stock opened at $38.11 on Tuesday. The firm’s 50-day moving average price is $40.55 and its two-hundred day moving average price is $45.73. Revolution Medicines has a 12-month low of $29.55 and a 12-month high of $62.40. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of -10.62 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). Equities analysts predict that Revolution Medicines will post -3.49 EPS for the current year.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the transaction, the insider now directly owns 441,564 shares in the company, valued at approximately $17,238,658.56. This trade represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the transaction, the chief operating officer now owns 153,533 shares in the company, valued at $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,660 shares of company stock worth $650,406. 8.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new stake in shares of Revolution Medicines during the 4th quarter valued at $34,000. Quarry LP bought a new stake in shares of Revolution Medicines during the 3rd quarter valued at $82,000. Sterling Capital Management LLC raised its position in shares of Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after purchasing an additional 1,672 shares during the period. Farther Finance Advisors LLC raised its position in shares of Revolution Medicines by 368.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after purchasing an additional 1,613 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Revolution Medicines during the 4th quarter valued at $104,000. 94.34% of the stock is currently owned by institutional investors.

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.