Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $66.67 Average Price Target from Brokerages

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been given an average recommendation of “Buy” by the twelve research firms that are covering the stock, Marketbeat reports. Twelve analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $66.67.

Several research firms recently commented on RVMD. Stifel Nicolaus dropped their target price on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. UBS Group lifted their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and set a $59.00 price target on shares of Revolution Medicines in a research report on Tuesday, April 8th. Wedbush reiterated an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, February 27th. Finally, HC Wainwright increased their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd.

Insider Activity at Revolution Medicines

In other news, CFO Jack Anders sold 1,864 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the transaction, the chief financial officer now owns 115,006 shares of the company’s stock, valued at approximately $4,489,834.24. The trade was a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 11,738 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the sale, the insider now owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,660 shares of company stock valued at $650,406. 8.00% of the stock is currently owned by insiders.

Institutional Trading of Revolution Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in RVMD. Harbor Capital Advisors Inc. purchased a new position in Revolution Medicines in the first quarter worth approximately $1,252,000. Rhumbline Advisers lifted its stake in shares of Revolution Medicines by 2.3% in the 1st quarter. Rhumbline Advisers now owns 257,150 shares of the company’s stock valued at $9,093,000 after purchasing an additional 5,685 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Revolution Medicines by 3,501.9% during the 1st quarter. GAMMA Investing LLC now owns 21,287 shares of the company’s stock worth $753,000 after purchasing an additional 20,696 shares during the period. California State Teachers Retirement System increased its position in shares of Revolution Medicines by 1.0% during the 4th quarter. California State Teachers Retirement System now owns 113,036 shares of the company’s stock worth $4,944,000 after purchasing an additional 1,104 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in Revolution Medicines in the 4th quarter valued at about $994,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Price Performance

Shares of RVMD opened at $36.47 on Friday. The firm has a market capitalization of $6.78 billion, a PE ratio of -10.16 and a beta of 1.37. The company’s fifty day moving average price is $38.26 and its 200-day moving average price is $44.65. Revolution Medicines has a 1-year low of $29.17 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, research analysts anticipate that Revolution Medicines will post -3.49 EPS for the current fiscal year.

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.