Stifel Nicolaus Issues Pessimistic Forecast for Revolution Medicines (NASDAQ:RVMD) Stock Price

Revolution Medicines (NASDAQ:RVMD) had its price objective decreased by Stifel Nicolaus from $80.00 to $78.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 91.46% from the stock’s current price.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their price target on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Piper Sandler lifted their price target on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Revolution Medicines in a research note on Monday, December 2nd. Guggenheim lifted their price target on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC reduced their price objective on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday. 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 a consensus price target of $66.23.

Revolution Medicines Trading Up 4.2 %

Shares of RVMD opened at $40.74 on Thursday. Revolution Medicines has a 12 month low of $29.00 and a 12 month high of $62.40. The stock’s 50 day moving average is $42.15 and its two-hundred day moving average is $46.17. The firm has a market cap of $6.85 billion, a P/E ratio of -11.35 and a beta of 1.45.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). Equities research analysts forecast that Revolution Medicines will post -3.49 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, Director Thilo Schroeder acquired 1,304,347 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the acquisition, the director now owns 2,096,612 shares of the company’s stock, valued at $96,444,152. This represents a 164.64 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jack Anders sold 2,635 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the completion of the sale, the chief financial officer now owns 96,470 shares in the company, valued at $4,379,738. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,678 shares of company stock worth $847,981 over the last quarter. 8.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Revolution Medicines by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock valued at $747,799,000 after buying an additional 2,185,082 shares during the period. Farallon Capital Management LLC raised its holdings in shares of Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock valued at $579,498,000 after buying an additional 1,931,000 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Revolution Medicines by 54.5% in the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company’s stock valued at $414,777,000 after buying an additional 3,346,755 shares during the period. Baker BROS. Advisors LP raised its holdings in shares of Revolution Medicines by 4.9% in the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company’s stock valued at $347,163,000 after buying an additional 367,882 shares during the period. Finally, Nextech Invest Ltd. raised its holdings in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares during the period. 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.