Recent Research Analysts’ Ratings Changes for Revolution Medicines (RVMD)

Revolution Medicines (NASDAQ: RVMD) recently received a number of ratings updates from brokerages and research firms:

• 8/12/2024 – Revolution Medicines had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $56.00 price target on the stock.
• 8/8/2024 – Revolution Medicines had its price target lowered by analysts at JPMorgan Chase & Co. from $55.00 to $54.00. They now have an “overweight” rating on the stock.
• 8/8/2024 – Revolution Medicines had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $59.00 price target on the stock.
• 8/8/2024 – Revolution Medicines had its price target lowered by analysts at Needham & Company LLC from $62.00 to $61.00. They now have a “buy” rating on the stock.
• 7/18/2024 – Revolution Medicines had its price target raised by analysts at Barclays PLC from $52.00 to $54.00. They now have an “overweight” rating on the stock.
• 7/16/2024 – Revolution Medicines had its price target raised by analysts at Oppenheimer Holdings Inc. from $45.00 to $55.00. They now have an “outperform” rating on the stock.
• 7/16/2024 – Revolution Medicines had its price target raised by analysts at Bank of America Co. from $48.00 to $55.00. They now have a “buy” rating on the stock.
• 7/16/2024 – Revolution Medicines had its price target raised by analysts at Needham & Company LLC from $46.00 to $62.00. They now have a “buy” rating on the stock.
• 7/16/2024 – Revolution Medicines had its price target raised by analysts at HC Wainwright from $44.00 to $56.00. They now have a “buy” rating on the stock.
• 7/12/2024 – Revolution Medicines is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $52.00 price target on the stock.
• 7/8/2024 – Revolution Medicines is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $63.00 price target on the stock.

Revolution Medicines Stock Down 1.1 %

Shares of RVMD opened at $43.59 on Wednesday. Revolution Medicines, Inc. has a 12-month low of $15.44 and a 12-month high of $48.61. The business has a 50-day simple moving average of $42.56 and a two-hundred day simple moving average of $37.46. The stock has a market cap of $7.19 billion, a PE ratio of -11.62 and a beta of 1.44.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.81 million. During the same period in the previous year, the firm posted ($0.92) earnings per share. The firm’s quarterly revenue was down 73.8% on a year-over-year basis. On average, equities research analysts expect that Revolution Medicines, Inc. will post -3.47 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $44.00, for a total value of $94,820.00. Following the sale, the director now owns 19,948 shares in the company, valued at approximately $877,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Mark A. Goldsmith sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $45.88, for a total transaction of $458,800.00. Following the sale, the insider now owns 311,885 shares in the company, valued at approximately $14,309,283.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $44.00, for a total value of $94,820.00. Following the sale, the director now owns 19,948 shares in the company, valued at approximately $877,712. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,421 shares of company stock worth $2,637,077. Insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently made changes to their positions in RVMD. Bellevue Group AG boosted its holdings in Revolution Medicines by 7.8% in the fourth quarter. Bellevue Group AG now owns 5,091,000 shares of the company’s stock worth $146,010,000 after acquiring an additional 369,500 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Revolution Medicines in the first quarter worth approximately $6,656,000. Mass General Brigham Inc bought a new position in Revolution Medicines in the first quarter worth approximately $10,900,000. Finepoint Capital LP boosted its holdings in Revolution Medicines by 44.5% in the fourth quarter. Finepoint Capital LP now owns 617,100 shares of the company’s stock worth $17,698,000 after acquiring an additional 190,100 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Revolution Medicines by 0.8% in the first quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock worth $475,622,000 after acquiring an additional 122,721 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

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.