Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Average Recommendation of “Buy” from Brokerages

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have earned a consensus recommendation of “Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $66.25.

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. HC Wainwright upped their price target on Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer lifted their price objective on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Needham & Company LLC reiterated a “buy” rating and set a $68.00 target price on shares of Revolution Medicines in a research report on Tuesday, December 3rd. Finally, UBS Group upped their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 2,635 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the completion of the sale, the chief financial officer now owns 96,470 shares of the company’s stock, valued at $4,379,738. This represents a 2.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thilo Schroeder bought 1,304,347 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was acquired at an average cost of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the purchase, the director now directly owns 2,096,612 shares of the company’s stock, valued at $96,444,152. The trade was a 164.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 18,678 shares of company stock valued at $847,981 in the last quarter. Insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after purchasing an additional 222 shares during the period. Captrust Financial Advisors increased its position in shares of Revolution Medicines by 4.1% during the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after acquiring an additional 337 shares in the last quarter. Amalgamated Bank grew its stake in shares of Revolution Medicines by 7.4% in the second quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after acquiring an additional 365 shares during the period. KBC Group NV lifted its holdings in Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Revolution Medicines by 22.6% in the third 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 in the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Down 0.4 %

Shares of Revolution Medicines stock opened at $40.99 on Monday. The stock has a fifty day simple moving average of $46.66 and a 200 day simple moving average of $46.75. The company has a market capitalization of $6.90 billion, a P/E ratio of -11.42 and a beta of 1.46. Revolution Medicines has a 12-month low of $26.95 and a 12-month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period last year, the company posted ($0.99) earnings per share. On average, analysts predict that Revolution Medicines will post -3.49 EPS for the current year.

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.