Revolution Medicines (RVMD) to Release Earnings on Wednesday

Revolution Medicines (NASDAQ:RVMD) will be announcing its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($0.88) per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.81 million. During the same quarter in the previous year, the company earned ($0.92) earnings per share. The company’s quarterly revenue was down 73.8% compared to the same quarter last year. On average, analysts expect Revolution Medicines to post $-3 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Revolution Medicines Trading Up 3.0 %

NASDAQ:RVMD opened at $55.09 on Monday. The firm has a market cap of $9.20 billion, a P/E ratio of -15.13 and a beta of 1.40. The stock has a 50 day moving average of $46.03 and a two-hundred day moving average of $42.48. Revolution Medicines has a 12 month low of $18.79 and a 12 month high of $55.20.

Insider Activity at Revolution Medicines

In other news, COO Margaret A. Horn sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.34, for a total value of $2,517,000.00. Following the completion of the transaction, the chief operating officer now owns 132,320 shares of the company’s stock, valued at approximately $6,660,988.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total value of $249,704.00. Following the sale, the director now owns 13,065 shares of the company’s stock, valued at $627,381.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Margaret A. Horn sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the sale, the chief operating officer now owns 132,320 shares in the company, valued at $6,660,988.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,866 shares of company stock worth $6,355,624. 8.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RVMD shares. Bank of America upped their target price on shares of Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wedbush reiterated an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $61.00 target price on shares of Revolution Medicines in a report on Thursday, October 24th. Barclays raised their target price on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Guggenheim boosted their price target 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. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $56.75.

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.