Revolution Medicines (NASDAQ:RVMD) Given New $64.00 Price Target at HC Wainwright

Revolution Medicines (NASDAQ:RVMD) had its target price boosted by HC Wainwright from $62.00 to $64.00 in a research note issued to investors on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock. 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.

Several other equities research analysts also recently weighed in on the company. Needham & Company LLC increased their price objective on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer increased their price target on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Bank of America lifted their price objective on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Wedbush reiterated an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $61.00.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $60.44 on Thursday. The company has a fifty day moving average of $47.56 and a two-hundred day moving average of $43.22. The company has a market capitalization of $10.17 billion, a PE ratio of -16.84 and a beta of 1.40. Revolution Medicines has a 1 year low of $18.79 and a 1 year high of $61.06.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter last year, the firm earned ($0.99) earnings per share. On average, research analysts expect that Revolution Medicines will post -3.42 earnings per share for the current year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was 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 approximately $627,381.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.36, for a total value of $1,510,800.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at $15,116,561.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Barbara Weber sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the sale, the director now owns 13,065 shares of the company’s stock, valued at $627,381.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,866 shares of company stock worth $6,355,624 over the last 90 days. Company insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares during the period. Headlands Technologies LLC increased its stake in Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after purchasing an additional 885 shares in the last quarter. Values First Advisors Inc. acquired a new position in Revolution Medicines during the third quarter worth $93,000. Allspring Global Investments Holdings LLC purchased a new stake in Revolution Medicines during the first quarter worth $104,000. Finally, EntryPoint Capital LLC acquired a new stake in Revolution Medicines in the first quarter valued at $107,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.