Revolution Medicines (NASDAQ:RVMD) Stock Price Expected to Rise, HC Wainwright Analyst Says

Revolution Medicines (NASDAQ:RVMD) had its price objective hoisted by HC Wainwright from $62.00 to $64.00 in a report released on Thursday morning,Benzinga reports. The brokerage 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.

Other analysts have also recently issued research reports about the company. Barclays increased their price objective on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Wedbush restated an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Bank of America boosted 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. Needham & Company LLC increased their target price on shares of Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Oppenheimer boosted their price target on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research 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, the company presently has an average rating of “Buy” and a consensus price target of $61.00.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD traded up $1.58 during midday trading on Thursday, hitting $60.68. The company’s stock had a trading volume of 949,564 shares, compared to its average volume of 1,333,792. The stock has a fifty day moving average price of $46.86 and a 200 day moving average price of $42.89. Revolution Medicines has a one year low of $18.79 and a one year high of $61.00.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results 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 quarter last year, the company earned ($0.99) EPS. Sell-side analysts predict that Revolution Medicines will post -3.37 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 16,666 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total value of $824,800.34. Following the completion of the sale, the insider now owns 264,408 shares of the company’s stock, valued at approximately $13,085,551.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Stephen Michael Kelsey sold 16,666 shares of Revolution Medicines stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total value of $824,800.34. Following the transaction, the insider now directly owns 264,408 shares of the company’s stock, valued at $13,085,551.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark A. Goldsmith sold 10,000 shares of the company’s 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. Corporate insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in 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 buying an additional 222 shares during the period. Headlands Technologies LLC lifted its stake in shares of 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 during the period. Values First Advisors Inc. bought a new stake in shares of Revolution Medicines during the third quarter valued at approximately $93,000. Allspring Global Investments Holdings LLC purchased a new stake in Revolution Medicines in the first quarter worth $104,000. Finally, EntryPoint Capital LLC bought a new position in Revolution Medicines in the first quarter worth $107,000. Institutional investors own 94.34% 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.