Revolution Medicines (NASDAQ:RVMD) PT Raised to $82.00

Revolution Medicines (NASDAQ:RVMD - Get Free Report) had its price target lifted by equities research analysts at Guggenheim from $72.00 to $82.00 in a research note issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. Guggenheim's price target suggests a potential upside of 71.73% from the company's previous close.

A number of other brokerages have also recently commented on RVMD. Wedbush reaffirmed an "outperform" rating and set a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a report on Monday, July 8th. They set a "buy" rating and a $63.00 target price for the company. Barclays upped their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Bank of America upped their price target on shares of Revolution Medicines from $48.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, July 16th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $61.00 price target on shares of Revolution Medicines in a research report on Thursday. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of "Buy" and a consensus target price of $56.75.

Revolution Medicines Stock Performance

Shares of RVMD traded up $1.33 during mid-day trading on Monday, hitting $47.75. 1,167,931 shares of the company traded hands, compared to its average volume of 1,313,827. The stock has a 50-day moving average price of $45.26 and a two-hundred day moving average price of $41.95. Revolution Medicines has a 1 year low of $18.00 and a 1 year high of $51.00. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of -13.12 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.77) by ($0.04). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.81 million. During the same period in the prior year, the company posted ($0.92) earnings per share. The company's revenue was down 73.8% compared to the same quarter last year. On average, analysts forecast that Revolution Medicines will post -3.35 EPS for the current year.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at $13,486,638.10. This trade 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 is available through this link. In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at $13,486,638.10. This trade 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 is available through this link. Also, COO Margaret A. Horn sold 50,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the transaction, the chief operating officer now owns 132,320 shares of the company's stock, valued at $6,660,988.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,866 shares of company stock worth $6,814,424. 8.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors have recently bought and sold shares of RVMD. Allspring Global Investments Holdings LLC purchased a new stake in shares of Revolution Medicines in the first quarter valued at $104,000. Duality Advisers LP purchased a new stake in shares of Revolution Medicines in the first quarter valued at $826,000. SG Americas Securities LLC raised its stake in shares of Revolution Medicines by 153.9% in the first quarter. SG Americas Securities LLC now owns 9,129 shares of the company's stock valued at $294,000 after acquiring an additional 5,534 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Revolution Medicines in the first quarter valued at $6,656,000. Finally, Sei Investments Co. purchased a new stake in shares of Revolution Medicines in the first quarter valued at $528,000. Institutional investors 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.