Revolution Medicines (RVMD) to Release Quarterly Earnings on Wednesday

Revolution Medicines (NASDAQ:RVMD) will post its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect Revolution Medicines to post earnings of ($0.88) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.81 million. Revolution Medicines’s revenue for the quarter was down 73.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.92) earnings per share. On average, analysts expect Revolution Medicines to post $-3 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $55.09 on Monday. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of -15.13 and a beta of 1.40. The firm has a 50-day moving average of $46.03 and a two-hundred day moving average of $42.48. Revolution Medicines has a 1 year low of $18.79 and a 1 year high of $55.20.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.36, for a total value of $1,510,800.00. Following the transaction, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $15,116,561.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of Revolution Medicines stock in a transaction that occurred 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 completion of the sale, the director now directly owns 13,065 shares in the company, valued at approximately $627,381.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark A. Goldsmith sold 30,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the completion of the sale, the insider now directly owns 300,170 shares in the company, valued at $15,116,561.20. 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 a total of 127,866 shares of company stock valued at $6,355,624 in the last ninety days. Company insiders own 8.00% of the company’s stock.

Analysts Set New Price Targets

RVMD has been the subject of several research reports. Wedbush reiterated an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. Guggenheim raised their target price 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. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price target on shares of Revolution Medicines in a research report on Monday, August 12th. 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 report on Tuesday, July 16th. Finally, Oppenheimer increased their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Eleven research 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, the company has an average rating of “Buy” and an average target price of $56.75.

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.