Stifel Nicolaus Issues Pessimistic Forecast for Revolution Medicines (NASDAQ:RVMD) Stock Price

Revolution Medicines (NASDAQ:RVMD) had its price objective reduced by stock analysts at Stifel Nicolaus from $78.00 to $64.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 84.97% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Needham & Company LLC lowered their price target on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Guggenheim boosted their target price on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. HC Wainwright lifted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Finally, UBS Group increased their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Twelve research 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, the stock currently has an average rating of “Buy” and an average price target of $65.23.

Revolution Medicines Trading Up 2.9 %

NASDAQ:RVMD opened at $34.60 on Tuesday. The company has a market cap of $6.43 billion, a P/E ratio of -9.64 and a beta of 1.46. Revolution Medicines has a twelve month low of $29.55 and a twelve month high of $62.40. The company’s 50-day moving average price is $39.97 and its 200-day moving average price is $45.42.

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

Insider Transactions at Revolution Medicines

In other news, CFO Jack Anders sold 1,864 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares of the company’s stock, valued at approximately $4,489,834.24. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the transaction, the chief operating officer now owns 153,533 shares of the company’s stock, valued at approximately $5,993,928.32. This trade represents 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 valued at $650,406. 8.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

A number of large investors have recently modified their holdings of RVMD. IFP Advisors Inc purchased a new stake in shares of Revolution Medicines during the 4th quarter worth $34,000. Quarry LP acquired a new stake in Revolution Medicines in the third quarter valued at $82,000. Sterling Capital Management LLC lifted its holdings in Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after buying an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC boosted 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 worth $90,000 after acquiring an additional 1,613 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Revolution Medicines in the 4th quarter valued at about $104,000. 94.34% of the stock is owned by hedge funds and other 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.