Revolution Medicines, Inc. (NASDAQ:RVMD) Given Consensus Rating of "Buy" by Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has earned an average rating of "Buy" from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $54.00.

A number of analysts have commented on RVMD shares. HC Wainwright reaffirmed a "buy" rating and set a $56.00 target price on shares of Revolution Medicines in a report on Monday, August 12th. Jefferies Financial Group started coverage on shares of Revolution Medicines in a research note on Monday, July 8th. They issued a "buy" rating and a $63.00 target price for the company. Oppenheimer boosted their price target on shares of Revolution Medicines from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 16th. Needham & Company LLC reissued a "buy" rating and set a $61.00 price target on shares of Revolution Medicines in a research report on Monday, October 7th. Finally, Bank of America upped their target price on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, July 16th.

Revolution Medicines Trading Up 0.9 %

RVMD stock traded up $0.43 during trading on Friday, reaching $50.43. 649,297 shares of the stock were exchanged, compared to its average volume of 1,307,080. The company has a market capitalization of $8.42 billion, a P/E ratio of -13.85 and a beta of 1.43. Revolution Medicines has a twelve month low of $15.44 and a twelve month high of $51.00. The stock has a 50 day simple moving average of $44.82 and a 200-day simple moving average of $41.36.

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

Insiders Place Their Bets

In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of the business's stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the transaction, the director now directly owns 13,065 shares in the company, valued at $627,381.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total value of $824,800.34. Following the transaction, the insider now owns 264,408 shares of the company's stock, valued at $13,085,551.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barbara Weber sold 5,200 shares of the stock in a transaction on 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 directly owns 13,065 shares in the company, valued at approximately $627,381.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,866 shares of company stock valued at $6,814,424. Corporate insiders own 8.00% of the company's stock.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company's stock valued at $28,000 after acquiring an additional 222 shares during the period. Headlands Technologies LLC grew its stake in shares of Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company's stock worth $49,000 after acquiring an additional 885 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Revolution Medicines in the first quarter worth approximately $104,000. EntryPoint Capital LLC bought a new stake in shares of Revolution Medicines in the first quarter worth approximately $107,000. Finally, Nisa Investment Advisors LLC grew its position in Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company's stock valued at $131,000 after buying an additional 320 shares during the period. Hedge funds and other 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.