Revolution Medicines, Inc. (NASDAQ:RVMD) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have earned an average rating of “Buy” from the twenty-one analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a buy recommendation and five have given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $78.9412.

A number of research firms have recently issued reports on RVMD. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Thursday, January 22nd. Truist Financial raised shares of Revolution Medicines to a “strong-buy” rating in a research report on Wednesday. Jefferies Financial Group began coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating on the stock. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Finally, Evercore upgraded shares of Revolution Medicines to a “strong-buy” rating in a report on Wednesday, February 25th.

Revolution Medicines Stock Down 0.8%

NASDAQ:RVMD opened at $92.51 on Friday. The business’s fifty day moving average price is $100.37 and its 200 day moving average price is $78.70. The firm has a market capitalization of $18.33 billion, a price-to-earnings ratio of -15.65 and a beta of 0.99. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.16. Revolution Medicines has a 1-year low of $29.17 and a 1-year high of $124.49.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period in the previous year, the business posted ($1.12) earnings per share. On average, sell-side analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Activity

In other Revolution Medicines news, insider Xiaolin Wang sold 2,010 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $199,954.80. Following the transaction, the insider owned 116,063 shares in the company, valued at $11,545,947.24. The trade was a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jack Anders sold 2,753 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $273,868.44. Following the sale, the chief financial officer directly owned 125,512 shares of the company’s stock, valued at $12,485,933.76. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 149,592 shares of company stock valued at $15,010,732. 8.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nextech Invest Ltd. grew its position in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares in the last quarter. Millennium Management LLC increased its stake in shares of Revolution Medicines by 681.8% during the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after purchasing an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Revolution Medicines by 14.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after purchasing an additional 37,345 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Revolution Medicines in the 2nd quarter valued at $9,263,000. Finally, Prudential Financial Inc. lifted its stake in shares of Revolution Medicines by 3.2% in the 2nd quarter. Prudential Financial Inc. now owns 47,604 shares of the company’s stock valued at $1,751,000 after purchasing an additional 1,495 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.