Revolution Medicines (NASDAQ:RVMD) Given New $71.00 Price Target at UBS Group

Revolution Medicines (NASDAQ:RVMD) had its price target boosted by equities research analysts at UBS Group from $65.00 to $71.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 59.30% from the company’s previous close.

A number of other analysts also recently weighed in on RVMD. Wedbush reissued an “outperform” rating and set a $70.00 price target on shares of Revolution Medicines in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Guggenheim upped their target price on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. HC Wainwright lifted their price target on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer upped their price objective on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. 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.com, Revolution Medicines has a consensus rating of “Buy” and an average target price of $66.25.

Revolution Medicines Trading Up 0.5 %

RVMD stock traded up $0.24 during trading on Wednesday, reaching $44.57. The stock had a trading volume of 90,399 shares, compared to its average volume of 740,526. The firm has a fifty day moving average price of $50.75 and a 200 day moving average price of $46.57. The company has a market capitalization of $7.50 billion, a P/E ratio of -12.42 and a beta of 1.46. Revolution Medicines has a 1-year low of $25.93 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period last year, the business posted ($0.99) earnings per share. Sell-side analysts predict that Revolution Medicines will post -3.5 EPS for the current year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 4,329 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $196,536.60. Following the sale, the chief operating officer now owns 127,991 shares in the company, valued at approximately $5,810,791.40. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 30,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.36, for a total value of $1,510,800.00. Following the sale, the insider now directly owns 300,170 shares in the company, valued at approximately $15,116,561.20. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,344 shares of company stock worth $6,504,602 in the last 90 days. 8.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Revolution Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Revolution Medicines during the 3rd quarter worth about $801,000. Citigroup Inc. increased its stake in shares of Revolution Medicines by 29.5% during the third quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock valued at $5,348,000 after acquiring an additional 26,871 shares during the period. State Street Corp raised its holdings in Revolution Medicines by 4.1% during the third quarter. State Street Corp now owns 5,279,584 shares of the company’s stock worth $239,429,000 after purchasing an additional 208,516 shares in the last quarter. Barclays PLC raised its holdings in Revolution Medicines by 187.1% during the third quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after purchasing an additional 192,021 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Revolution Medicines by 58.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after purchasing an additional 653,433 shares during the period. 94.34% of the stock is owned by institutional investors.

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.