Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $215.00 at Mizuho

Revolution Medicines (NASDAQ:RVMD) had its price objective raised by Mizuho from $185.00 to $215.00 in a research report released on Monday, Marketbeat Ratings reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also commented on RVMD. Oppenheimer raised their price target on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Royal Bank Of Canada lifted their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Guggenheim raised their price target on Revolution Medicines to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Revolution Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $142.33.

Revolution Medicines Price Performance

RVMD opened at $187.77 on Monday. The company has a fifty day moving average price of $156.00 and a two-hundred day moving average price of $120.84. The firm has a market capitalization of $39.92 billion, a PE ratio of -26.49 and a beta of 1.37. Revolution Medicines has a 52 week low of $34.00 and a 52 week high of $193.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last posted 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 earned ($1.13) earnings per share. As a group, analysts anticipate that Revolution Medicines will post -7.94 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In related news, CFO Jack Anders sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the transaction, the chief financial officer owned 123,269 shares in the company, valued at approximately $20,749,870.77. This represents a 13.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction dated 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 transaction, the insider directly owned 291,876 shares in the company, valued at approximately $45,567,681.12. This represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 252,497 shares of company stock worth $39,481,286 in the last ninety days. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of RVMD. Vanguard Group Inc. increased its position in Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares during the period. Farallon Capital Management LLC grew its position in shares of Revolution Medicines by 2.1% during the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock worth $683,020,000 after purchasing an additional 300,000 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after purchasing an additional 947,448 shares during the period. Baker BROS. Advisors LP increased its holdings in shares of Revolution Medicines by 1.0% during the third quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock worth $441,565,000 after purchasing an additional 90,385 shares during the period. Finally, Nextech Invest Ltd. raised its position in shares of Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

About Revolution Medicines

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.