Revolution Medicines (NASDAQ:RVMD) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Revolution Medicines (NASDAQ:RVMD) in a report issued on Monday morning, Benzinga reports. They currently have a $56.00 price objective on the stock. HC Wainwright also issued estimates for Revolution Medicines’ Q3 2024 earnings at ($0.84) EPS, Q4 2024 earnings at ($0.89) EPS, FY2024 earnings at ($3.24) EPS, Q1 2025 earnings at ($0.92) EPS, Q2 2025 earnings at ($0.94) EPS, Q3 2025 earnings at ($0.97) EPS, Q4 2025 earnings at ($0.99) EPS and FY2025 earnings at ($3.82) EPS.

Other equities research analysts have also issued reports about the stock. Barclays upped their price target on shares of Revolution Medicines from $52.00 to $54.00 and gave the company an overweight rating in a report on Thursday, July 18th. Needham & Company LLC lowered their price objective on Revolution Medicines from $62.00 to $61.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Wedbush reaffirmed an outperform rating and set a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on shares of Revolution Medicines from $55.00 to $54.00 and set an overweight rating on the stock in a report on Thursday, August 8th. Finally, Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research report on Monday, July 8th. They issued a buy rating and a $63.00 price objective for the company. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $52.92.

Revolution Medicines Trading Up 2.2 %

NASDAQ:RVMD opened at $43.52 on Monday. The company has a market cap of $7.27 billion, a PE ratio of -11.61 and a beta of 1.44. The company’s 50 day moving average is $41.93 and its two-hundred day moving average is $36.64. Revolution Medicines has a twelve month low of $15.44 and a twelve month high of $48.61.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.81 million. The business’s revenue for the quarter was down 73.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.92) earnings per share. As a group, analysts expect that Revolution Medicines will post -3.34 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In related news, General Counsel Jeff Cislini sold 2,399 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $40.83, for a total value of $97,951.17. Following the completion of the transaction, the general counsel now directly owns 47,088 shares of the company’s stock, valued at approximately $1,922,603.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Jeff Cislini sold 2,399 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $40.83, for a total transaction of $97,951.17. Following the completion of the sale, the general counsel now owns 47,088 shares of the company’s stock, valued at approximately $1,922,603.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sushil Patel sold 2,155 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $44.00, for a total transaction of $94,820.00. Following the completion of the sale, the director now owns 19,948 shares of the company’s stock, valued at approximately $877,712. The disclosure for this sale can be found here. Insiders have sold 58,421 shares of company stock valued at $2,637,077 over the last ninety days. Insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

A number of institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC grew its holdings in Revolution Medicines by 10.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 228,513 shares of the company’s stock valued at $8,869,000 after buying an additional 22,000 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Revolution Medicines by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 212,368 shares of the company’s stock valued at $8,242,000 after buying an additional 13,318 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Revolution Medicines in the 2nd quarter valued at approximately $498,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Revolution Medicines during the 2nd quarter worth approximately $232,000. Finally, Fred Alger Management LLC purchased a new stake in shares of Revolution Medicines during the 2nd quarter valued at approximately $845,000. Hedge funds and other 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.