HC Wainwright Issues Positive Forecast for Revolution Medicines (NASDAQ:RVMD) Stock Price

Revolution Medicines (NASDAQ:RVMD) had its price objective boosted by stock analysts at HC Wainwright from $62.00 to $64.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 5.89% from the company’s previous close. HC Wainwright also issued estimates for Revolution Medicines’ Q3 2024 earnings at ($0.89) EPS, 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.

Other equities analysts also recently issued reports about the company. Barclays upped their price target on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Needham & Company LLC upped their target price on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America raised their price target on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Guggenheim increased their price objective on shares of Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a research note on Thursday, August 8th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $61.00.

Revolution Medicines Trading Up 2.3 %

RVMD opened at $60.44 on Thursday. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of -16.84 and a beta of 1.40. Revolution Medicines has a 12 month low of $18.79 and a 12 month high of $61.06. The stock has a fifty day moving average price of $47.56 and a 200-day moving average price of $43.17.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter last year, the company posted ($0.99) EPS. On average, equities research analysts forecast that Revolution Medicines will post -3.37 EPS for the current year.

Insiders Place Their Bets

In related news, Director Barbara Weber sold 5,200 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the transaction, the director now directly owns 13,065 shares in the company, valued at approximately $627,381.30. This trade 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 can be accessed through this hyperlink. In other news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.30, for a total transaction of $503,000.00. Following the sale, the chief financial officer now directly owns 98,932 shares in the company, valued at $4,976,279.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barbara Weber sold 5,200 shares of Revolution Medicines stock in a transaction dated 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 transaction, the director now owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,866 shares of company stock valued at $6,355,624. Company insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after buying an additional 222 shares during the period. Headlands Technologies LLC increased its holdings in Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after acquiring an additional 885 shares in the last quarter. Values First Advisors Inc. acquired a new position in Revolution Medicines during the third quarter worth $93,000. Allspring Global Investments Holdings LLC purchased a new position in Revolution Medicines during the first quarter valued at $104,000. Finally, KBC Group NV lifted its holdings in Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after purchasing an additional 368 shares in the last quarter. 94.34% of the stock is 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.