Revolution Medicines (NASDAQ:RVMD) Stock Price Expected to Rise, UBS Group Analyst Says

Revolution Medicines (NASDAQ:RVMD) had its price objective boosted by equities researchers at UBS Group from $65.00 to $71.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 59.84% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Oppenheimer boosted their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Barclays increased their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Needham & Company LLC restated a “buy” rating and set a $68.00 price objective on shares of Revolution Medicines in a report on Tuesday, December 3rd. Piper Sandler upped their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, HC Wainwright lifted their target price on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $66.25.

Revolution Medicines Trading Up 0.2 %

Shares of NASDAQ RVMD opened at $44.42 on Wednesday. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of -12.37 and a beta of 1.46. Revolution Medicines has a twelve month low of $25.93 and a twelve month high of $62.40. The firm has a 50-day moving average of $50.44 and a two-hundred day moving average of $46.54.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the prior year, the business earned ($0.99) EPS. As a group, research analysts predict that Revolution Medicines will post -3.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 4,329 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $196,536.60. Following the completion of the sale, the chief operating officer now directly owns 127,991 shares of the company’s stock, valued at approximately $5,810,791.40. This represents a 3.27 % decrease in their position. 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 11,714 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $531,815.60. Following the sale, the insider now directly owns 325,056 shares of the company’s stock, valued at $14,757,542.40. This represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,344 shares of company stock worth $1,672,782. Insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Large investors have recently modified their holdings of the business. Farallon Capital Management LLC boosted its position in Revolution Medicines by 30.0% during the second quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock worth $378,696,000 after purchasing an additional 2,249,820 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Revolution Medicines by 32.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock worth $278,280,000 after buying an additional 1,497,026 shares during the period. FMR LLC grew its stake in Revolution Medicines by 4.4% in the 3rd quarter. FMR LLC now owns 5,875,893 shares of the company’s stock valued at $266,472,000 after buying an additional 250,037 shares during the last quarter. State Street Corp raised its holdings in Revolution Medicines by 4.1% in the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after acquiring an additional 208,516 shares during the period. Finally, Geode Capital Management LLC lifted its position in Revolution Medicines by 8.7% during the third quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company’s stock worth $164,517,000 after acquiring an additional 291,369 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.