Wedbush Analysts Decrease Earnings Estimates for RVMD

Revolution Medicines, Inc. (NASDAQ:RVMD) – Investment analysts at Wedbush cut their FY2024 EPS estimates for Revolution Medicines in a report issued on Thursday, November 7th. Wedbush analyst R. Driscoll now anticipates that the company will earn ($3.43) per share for the year, down from their previous estimate of ($3.41). Wedbush currently has a “Outperform” rating and a $59.00 target price on the stock. The consensus estimate for Revolution Medicines’ current full-year earnings is ($3.42) per share. Wedbush also issued estimates for Revolution Medicines’ Q4 2024 earnings at ($0.98) EPS, Q1 2025 earnings at ($0.98) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($1.04) EPS, Q4 2025 earnings at ($1.07) EPS, FY2025 earnings at ($4.10) EPS, FY2026 earnings at ($4.33) EPS, FY2027 earnings at ($4.20) EPS and FY2028 earnings at ($2.43) EPS.

Revolution Medicines (NASDAQ:RVMD) last released its 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 quarter last year, the company earned ($0.99) earnings per share.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday. Guggenheim upped their price target on shares of Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Barclays raised their target price on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Piper Sandler boosted their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Oppenheimer increased 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. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and an average target price of $61.00.

Revolution Medicines Stock Up 2.3 %

RVMD opened at $60.44 on Monday. The business’s fifty day simple moving average is $47.56 and its 200 day simple moving average is $43.22. Revolution Medicines has a 52 week low of $18.79 and a 52 week high of $61.06. The stock has a market cap of $10.17 billion, a PE ratio of -16.84 and a beta of 1.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after purchasing an additional 222 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Revolution Medicines in the third quarter worth about $93,000. Allspring Global Investments Holdings LLC bought a new position in shares of Revolution Medicines in the first quarter worth about $104,000. Finally, EntryPoint Capital LLC bought a new position in shares of Revolution Medicines in the first quarter worth about $107,000. Institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the transaction, the director now owns 13,065 shares in the company, valued at $627,381.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.30, for a total transaction of $503,000.00. Following the transaction, the chief financial officer now owns 98,932 shares in the company, valued at $4,976,279.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barbara Weber sold 5,200 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the transaction, the director now owns 13,065 shares in the company, valued at $627,381.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,866 shares of company stock worth $6,355,624. Insiders own 8.00% of the company’s stock.

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.