Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $63.00

Revolution Medicines (NASDAQ:RVMD) had its price objective lifted by JPMorgan Chase & Co. from $54.00 to $63.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently commented on RVMD. Guggenheim increased 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 lifted their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. HC Wainwright restated a “buy” rating and set a $56.00 price target on shares of Revolution Medicines in a research report on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $61.00 price objective on shares of Revolution Medicines in a report on Thursday, October 24th. Finally, Bank of America increased their target price on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $61.00.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $60.44 on Thursday. Revolution Medicines has a 52-week low of $18.79 and a 52-week high of $61.06. The company has a fifty day moving average of $47.56 and a 200-day moving average of $43.17. The company has a market capitalization of $10.17 billion, a P/E ratio of -16.84 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the previous year, the firm posted ($0.99) earnings per share. As a group, analysts forecast that Revolution Medicines will post -3.37 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the sale, the insider now directly owns 300,170 shares in the company, valued at $13,486,638.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the sale, the director now directly owns 13,065 shares of the company’s stock, valued at $627,381.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 10,000 shares of Revolution Medicines stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the transaction, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock worth $6,355,624 over the last 90 days. 8.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Revolution Medicines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew 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 worth $28,000 after buying an additional 222 shares during the last quarter. Headlands Technologies LLC grew its stake 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 acquiring an additional 885 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Revolution Medicines during the third quarter valued at $93,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Revolution Medicines in the 1st quarter worth about $104,000. Finally, KBC Group NV boosted its stake in Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after purchasing an additional 368 shares in the last quarter. Institutional investors own 94.34% 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.