HC Wainwright Issues Positive Forecast for Revolution Medicines (NASDAQ:RVMD) Stock Price

Revolution Medicines (NASDAQ:RVMD) had its price target lifted by equities research analysts at HC Wainwright from $62.00 to $64.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 7.26% from the company’s previous close. HC Wainwright also issued estimates for Revolution Medicines’ Q3 2024 earnings at ($0.89) EPS, Q4 2024 earnings at ($0.98) EPS, FY2024 earnings at ($3.38) EPS, Q1 2025 earnings at ($1.00) EPS, Q2 2025 earnings at ($1.02) EPS, Q3 2025 earnings at ($1.03) EPS, Q4 2025 earnings at ($1.05) EPS and FY2025 earnings at ($4.09) EPS.

Other analysts have also recently issued research reports about the company. Wedbush reissued an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a report on Thursday, August 8th. Needham & Company LLC raised their price target on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday. Oppenheimer raised their price target on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, Piper Sandler raised their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $61.00.

Revolution Medicines Stock Up 0.4 %

RVMD traded up $0.25 during trading on Thursday, reaching $59.67. 958,008 shares of the company were exchanged, compared to its average volume of 1,330,836. The company’s 50-day moving average is $46.86 and its two-hundred day moving average is $42.89. The company has a market cap of $9.97 billion, a price-to-earnings ratio of -16.37 and a beta of 1.40. Revolution Medicines has a 12-month low of $18.79 and a 12-month high of $60.53.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period last year, the firm earned ($0.99) earnings per share. Equities analysts forecast that Revolution Medicines will post -3.35 earnings per share for the current year.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.30, for a total transaction of $503,000.00. Following the transaction, the chief financial officer now directly owns 98,932 shares in the company, valued at $4,976,279.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.30, for a total transaction of $503,000.00. Following the transaction, the chief financial officer now directly owns 98,932 shares in the company, valued at $4,976,279.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Margaret A. Horn sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.34, for a total value of $2,517,000.00. Following the transaction, the chief operating officer now owns 132,320 shares in the company, valued at approximately $6,660,988.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,866 shares of company stock valued at $6,355,624. Corporate insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

A number of large investors have recently made changes to their positions in the business. CIBC Asset Management Inc bought a new stake in shares of Revolution Medicines in the 3rd quarter worth approximately $216,000. KBC Group NV grew its position in shares of Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Revolution Medicines by 65.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 32,127 shares of the company’s stock worth $1,457,000 after buying an additional 12,744 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Revolution Medicines by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,041 shares of the company’s stock worth $267,000 after buying an additional 1,115 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new position in shares of Revolution Medicines in the 3rd quarter valued at approximately $93,000. 94.34% of the stock is currently 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.