Stifel Nicolaus Lowers Revolution Medicines (NASDAQ:RVMD) Price Target to $78.00

Revolution Medicines (NASDAQ:RVMD) had its price target lowered by Stifel Nicolaus from $80.00 to $78.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. Piper Sandler increased their price target on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group increased their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Guggenheim increased their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. HC Wainwright increased their price objective on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Wedbush reiterated an “outperform” rating and set a $70.00 price objective on shares of Revolution Medicines in a report on Monday, December 2nd. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $66.23.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $40.74 on Thursday. Revolution Medicines has a 1 year low of $29.00 and a 1 year high of $62.40. The business has a 50-day moving average of $42.15 and a two-hundred day moving average of $46.20. The company has a market capitalization of $6.85 billion, a P/E ratio of -11.35 and a beta of 1.45.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly 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). On average, equities analysts anticipate that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,714 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the completion of the sale, the insider now directly owns 325,056 shares of the company’s stock, valued at $14,757,542.40. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thilo Schroeder acquired 1,304,347 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was acquired at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the completion of the transaction, the director now owns 2,096,612 shares of the company’s stock, valued at approximately $96,444,152. The trade was a 164.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 18,678 shares of company stock valued at $847,981. Insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $34,000. Quarry LP acquired a new stake in shares of Revolution Medicines in the third quarter valued at approximately $82,000. Sterling Capital Management LLC lifted its position in shares of Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after buying an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after buying an additional 1,613 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $104,000. 94.34% of the stock is owned by institutional investors and hedge funds.

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.