Research Analysts’ Recent Ratings Changes for Revolution Medicines (RVMD)

Posted by Adam Masters on Nov 18th, 2024

Revolution Medicines (NASDAQ: RVMD) has recently received a number of price target changes and ratings updates:

11/7/2024 – Revolution Medicines had its price target raised by analysts at JPMorgan Chase & Co. from $54.00 to $63.00. They now have an “overweight” rating on the stock.
11/7/2024 – Revolution Medicines had its price target raised by analysts at Piper Sandler from $57.00 to $70.00. They now have an “overweight” rating on the stock.
11/7/2024 – Revolution Medicines had its price target raised by analysts at HC Wainwright from $62.00 to $64.00. They now have a “buy” rating on the stock.
11/7/2024 – Revolution Medicines had its price target raised by analysts at Needham & Company LLC from $61.00 to $68.00. They now have a “buy” rating on the stock.
10/28/2024 – Revolution Medicines had its price target raised by analysts at Oppenheimer Holdings Inc. from $55.00 to $60.00. They now have an “outperform” rating on the stock.
10/28/2024 – Revolution Medicines had its price target raised by analysts at Guggenheim from $72.00 to $82.00. They now have a “buy” rating on the stock.
10/24/2024 – Revolution Medicines had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $61.00 price target on the stock.
10/7/2024 – Revolution Medicines had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $61.00 price target on the stock.
9/27/2024 – Revolution Medicines had its price target raised by analysts at Barclays PLC from $54.00 to $60.00. They now have an “overweight” rating on the stock.

Revolution Medicines Stock Performance

Shares of RVMD stock traded down $1.10 during mid-day trading on Monday, hitting $54.03. The company’s stock had a trading volume of 586,767 shares, compared to its average volume of 1,337,406. Revolution Medicines, Inc. has a 52-week low of $20.51 and a 52-week high of $62.40. The business has a 50-day moving average price of $49.14 and a 200 day moving average price of $44.02. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of -15.05 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter in the prior year, the firm posted ($0.99) earnings per share. Equities research analysts predict that Revolution Medicines, Inc. will post -3.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the completion of 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 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barbara Weber sold 5,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the completion of the sale, the director now directly owns 13,065 shares of the company’s stock, valued at $627,381.30. The trade was a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,866 shares of company stock worth $6,355,624 over the last quarter. 8.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted 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 valued at $28,000 after purchasing an additional 222 shares during the last quarter. Quarry LP purchased a new stake in shares of Revolution Medicines in the third quarter worth approximately $82,000. Values First Advisors Inc. purchased a new stake in shares of Revolution Medicines in the third quarter worth approximately $93,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Revolution Medicines in the first quarter worth approximately $104,000. Finally, KBC Group NV raised its holdings in shares of Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares during the period. 94.34% of the stock is owned by institutional investors.

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.