Revolution Medicines (NASDAQ:RVMD) Issues Earnings Results, Misses Estimates By $0.11 EPS

Revolution Medicines (NASDAQ:RVMD) posted its quarterly earnings results on Wednesday. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11), Zacks reports.

Revolution Medicines Trading Down 3.5 %

NASDAQ:RVMD opened at $39.08 on Friday. Revolution Medicines has a 12 month low of $29.00 and a 12 month high of $62.40. The company has a 50-day moving average price of $42.21 and a 200-day moving average price of $46.19. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of -10.89 and a beta of 1.45.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Needham & Company LLC decreased their price objective on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group raised their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Thursday. HC Wainwright increased their price objective on Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and a consensus price target of $66.23.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 11,714 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the completion of the transaction, the insider now owns 325,056 shares in the company, valued at $14,757,542.40. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Margaret A. Horn sold 4,329 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the completion of the sale, the chief operating officer now directly owns 127,991 shares in the company, valued at approximately $5,810,791.40. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,678 shares of company stock valued at $847,981 over the last three months. Corporate insiders own 8.00% of the company’s stock.

Revolution Medicines Company Profile

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.