Revolution Medicines (NASDAQ:RVMD) Price Target Lowered to $64.00 at Stifel Nicolaus

Revolution Medicines (NASDAQ:RVMD) had its price objective lowered by Stifel Nicolaus from $78.00 to $64.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on RVMD. JPMorgan Chase & Co. upped their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. Guggenheim lifted their price objective on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. UBS Group increased their target price on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, HC Wainwright lifted their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $65.23.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $33.62 on Tuesday. The business’s fifty day moving average price is $40.09 and its two-hundred day moving average price is $45.49. Revolution Medicines has a fifty-two week low of $29.55 and a fifty-two week high of $62.40. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of -9.36 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Research analysts expect that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 1,864 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the transaction, the chief financial officer now directly owns 115,006 shares of the company’s stock, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 11,738 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the sale, the insider now owns 441,564 shares of the company’s stock, valued at $17,238,658.56. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock worth $650,406 in the last quarter. 8.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of Revolution Medicines by 1.0% in the 4th quarter. California State Teachers Retirement System now owns 113,036 shares of the company’s stock valued at $4,944,000 after acquiring an additional 1,104 shares during the period. Jefferies Financial Group Inc. bought a new stake in Revolution Medicines in the fourth quarter valued at approximately $994,000. Polar Asset Management Partners Inc. raised its holdings in Revolution Medicines by 46.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 34,600 shares of the company’s stock worth $1,513,000 after purchasing an additional 10,900 shares during the period. Mackenzie Financial Corp boosted its position in shares of Revolution Medicines by 17.1% during the fourth quarter. Mackenzie Financial Corp now owns 6,055 shares of the company’s stock worth $265,000 after purchasing an additional 885 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Revolution Medicines in the 4th quarter valued at $154,000. 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.