Needham & Company LLC Reiterates "Buy" Rating for Revolution Medicines (NASDAQ:RVMD)

Needham & Company LLC reiterated their buy rating on shares of Revolution Medicines (NASDAQ:RVMD - Free Report) in a research note published on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $59.00 price objective on the stock.

RVMD has been the topic of a number of other reports. Wedbush reiterated an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. Stifel Nicolaus cut their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. UBS Group lifted their target price on Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, HC Wainwright upped 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. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Revolution Medicines presently has a consensus rating of "Buy" and an average price target of $66.67.

Revolution Medicines Stock Up 6.1 %

NASDAQ RVMD traded up $2.05 on Tuesday, reaching $35.72. 1,815,418 shares of the stock traded hands, compared to its average volume of 1,422,446. Revolution Medicines has a 12 month low of $29.17 and a 12 month high of $62.40. The company has a market cap of $6.64 billion, a price-to-earnings ratio of -9.95 and a beta of 1.37. The firm's fifty day simple moving average is $38.41 and its 200 day simple moving average is $44.70.

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

Insider Buying and Selling at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at approximately $5,993,928.32. The trade was a 1.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jack Anders sold 1,864 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the transaction, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 in the last 90 days. 8.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolution Medicines

Several large investors have recently added to or reduced their stakes in RVMD. CIBC Asset Management Inc lifted its stake in shares of Revolution Medicines by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock valued at $220,000 after purchasing an additional 270 shares during the last quarter. Captrust Financial Advisors raised its holdings in Revolution Medicines by 4.1% during the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company's stock valued at $384,000 after buying an additional 337 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Revolution Medicines by 11.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock worth $186,000 after buying an additional 434 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Revolution Medicines by 8.3% during the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company's stock worth $250,000 after acquiring an additional 435 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Revolution Medicines by 5.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock valued at $498,000 after acquiring an additional 545 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

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.