HC Wainwright Brokers Decrease Earnings Estimates for RVMD

Revolution Medicines, Inc. (NASDAQ:RVMD) – Stock analysts at HC Wainwright lowered their Q3 2024 earnings per share estimates for Revolution Medicines in a research note issued to investors on Monday, November 4th. HC Wainwright analyst R. Burns now forecasts that the company will post earnings of ($0.89) per share for the quarter, down from their previous forecast of ($0.84). HC Wainwright currently has a “Buy” rating and a $64.00 price target on the stock. The consensus estimate for Revolution Medicines’ current full-year earnings is ($3.35) per share. HC Wainwright also issued estimates for Revolution Medicines’ 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.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly 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 in the previous year, the company earned ($0.99) earnings per share.

RVMD has been the topic of a number of other research reports. Oppenheimer increased their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Bank of America lifted their target price on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Guggenheim raised their price target on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, October 28th. Barclays raised their price target on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and an average price target of $61.00.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $59.10 on Thursday. The company has a market cap of $9.87 billion, a P/E ratio of -16.39 and a beta of 1.40. Revolution Medicines has a 1 year low of $18.79 and a 1 year high of $60.53. The stock’s fifty day moving average price is $46.86 and its 200-day moving average price is $42.89.

Insider Buying and Selling

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the transaction, the insider now owns 264,408 shares of the company’s stock, valued at $13,085,551.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the sale, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc purchased a new position in Revolution Medicines in the third quarter worth approximately $216,000. KBC Group NV grew its position in 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 acquiring an additional 368 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Revolution Medicines by 65.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 32,127 shares of the company’s stock worth $1,457,000 after acquiring an additional 12,744 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Revolution Medicines by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,041 shares of the company’s stock worth $267,000 after acquiring an additional 1,115 shares during the period. Finally, Values First Advisors Inc. purchased a new position in shares of Revolution Medicines during the third quarter worth $93,000. Institutional investors and hedge funds 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.