Revolution Medicines (RVMD) Set to Announce Earnings on Wednesday

Revolution Medicines (NASDAQ:RVMD - Get Free Report) will post its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect Revolution Medicines to post earnings of ($0.88) per share for the quarter.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The business had revenue of $1.00 million during the quarter, compared to analysts' expectations of $0.81 million. During the same quarter in the previous year, the company earned ($0.92) earnings per share. Revolution Medicines's revenue for the quarter was down 73.8% compared to the same quarter last year. On average, analysts expect Revolution Medicines to post $-3 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Revolution Medicines Stock Up 5.9 %

NASDAQ RVMD traded up $3.00 during trading hours on Thursday, hitting $53.50. The company had a trading volume of 2,684,476 shares, compared to its average volume of 1,317,688. Revolution Medicines has a fifty-two week low of $18.00 and a fifty-two week high of $54.41. The business has a fifty day simple moving average of $45.59 and a 200-day simple moving average of $42.18. The firm has a market cap of $8.94 billion, a P/E ratio of -13.47 and a beta of 1.43.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RVMD. Needham & Company LLC reaffirmed a "buy" rating and issued a $61.00 target price on shares of Revolution Medicines in a research report on Thursday, October 24th. Oppenheimer increased their price objective on Revolution Medicines from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday. Wedbush reaffirmed an "outperform" rating and set a $59.00 price target on shares of Revolution Medicines in a research note on Thursday, August 8th. HC Wainwright reaffirmed a "buy" rating and set a $56.00 price target on shares of Revolution Medicines in a research note on Monday, August 12th. Finally, Guggenheim raised their price target on Revolution Medicines from $72.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $56.75.

Insider Activity

In other news, CFO Jack Anders sold 10,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.30, for a total transaction of $503,000.00. Following the transaction, the chief financial officer now owns 98,932 shares of the company's stock, valued at approximately $4,976,279.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the business's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.30, for a total value of $503,000.00. Following the transaction, the chief financial officer now owns 98,932 shares of the company's stock, valued at approximately $4,976,279.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Michael Kelsey sold 16,666 shares of the business's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the completion of the transaction, the insider now directly owns 264,408 shares in the company, valued at approximately $13,085,551.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,866 shares of company stock valued at $6,355,624. Insiders own 8.00% 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.