Brokerages Set Revolution Medicines, Inc. (NASDAQ:RVMD) Price Target at $66.31

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have received a consensus rating of “Buy” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $66.31.

Several brokerages recently weighed in on RVMD. Guggenheim raised their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. HC Wainwright raised their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Needham & Company LLC decreased their price objective on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, February 27th. UBS Group raised their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Stifel Nicolaus decreased their price target on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 27th.

Revolution Medicines Stock Up 3.2 %

Shares of NASDAQ RVMD opened at $39.34 on Tuesday. The business has a fifty day simple moving average of $40.49 and a 200-day simple moving average of $45.72. The company has a market cap of $7.31 billion, a price-to-earnings ratio of -10.96 and a beta of 1.46. Revolution Medicines has a 12 month low of $29.55 and a 12 month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, sell-side analysts expect that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the transaction, the insider now owns 441,564 shares of the company’s stock, valued at $17,238,658.56. The trade was a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the transaction, the chief operating officer now directly owns 153,533 shares in the company, valued at $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock worth $650,406 in the last three months. Insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Hedge funds have recently bought and sold shares of the company. Boxer Capital Management LLC bought a new position in shares of Revolution Medicines in the 4th quarter valued at $187,184,000. Janus Henderson Group PLC grew its position in Revolution Medicines by 54.5% during the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company’s stock worth $414,777,000 after acquiring an additional 3,346,755 shares during the last quarter. Vanguard Group Inc. increased its holdings in Revolution Medicines by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock worth $747,799,000 after purchasing an additional 2,185,082 shares in the last quarter. Farallon Capital Management LLC raised its position in Revolution Medicines by 17.1% in the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock valued at $579,498,000 after purchasing an additional 1,931,000 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Revolution Medicines during the third quarter valued at about $83,082,000. 94.34% of the stock is 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.