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

Revolution Medicines, Inc. (NASDAQ:RVMD) has received a consensus recommendation of “Buy” from the twenty-two brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have given a buy rating and three have issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $135.3889.

A number of equities analysts have commented on RVMD shares. Guggenheim raised their price objective on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. HC Wainwright upped their target price on Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Sanford C. Bernstein initiated coverage on Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target on the stock. Finally, Piper Sandler boosted their price target on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th.

Revolution Medicines Price Performance

Shares of RVMD opened at $189.24 on Monday. Revolution Medicines has a 12 month low of $34.00 and a 12 month high of $193.10. The firm’s 50 day moving average is $156.00 and its 200-day moving average is $120.84. The stock has a market capitalization of $40.23 billion, a PE ratio of -26.77 and a beta of 1.37. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the business posted ($1.13) EPS. Equities research analysts forecast that Revolution Medicines will post -7.94 EPS for the current year.

Insider Transactions at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 4,175 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the sale, the insider owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 60,400 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the sale, the chief operating officer directly owned 158,222 shares of the company’s stock, valued at approximately $25,342,417.74. This trade represents a 27.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 252,497 shares of company stock worth $39,481,286. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Indiana Trust & Investment Management Co acquired a new stake in shares of Revolution Medicines in the 4th quarter valued at $32,000. Global Retirement Partners LLC increased its stake in shares of Revolution Medicines by 1,002.8% in the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares during the last quarter. Torren Management LLC acquired a new position in shares of Revolution Medicines during the 4th quarter worth $33,000. Arax Advisory Partners acquired a new position in shares of Revolution Medicines during the 4th quarter worth $38,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Revolution Medicines during the 4th quarter worth $40,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.