Revolution Medicines (NASDAQ:RVMD) PT Raised to $60.00 at Barclays

by · The Markets Daily

Revolution Medicines (NASDAQ:RVMD – Get Free Report) had its price objective hoisted by Barclays from $54.00 to $60.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 35.84% from the stock’s previous close.

RVMD has been the subject of a number of other reports. Bank of America lifted their price objective on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Oppenheimer boosted their price target on shares of Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Needham & Company LLC reduced their price target on shares of Revolution Medicines from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $56.00 price objective on shares of Revolution Medicines in a report on Monday, August 12th. Finally, Wedbush reiterated an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Revolution Medicines currently has an average rating of “Buy” and an average target price of $54.00.

View Our Latest Stock Report on RVMD

Revolution Medicines Price Performance

NASDAQ RVMD opened at $44.17 on Friday. The stock has a market capitalization of $7.38 billion, a P/E ratio of -11.78 and a beta of 1.43. The firm’s 50-day moving average is $43.75 and its two-hundred day moving average is $39.59. Revolution Medicines has a 12 month low of $15.44 and a 12 month high of $48.61.

Revolution Medicines (NASDAQ:RVMD – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.81 million. During the same quarter in the prior year, the company posted ($0.92) EPS. The business’s revenue was down 73.8% on a year-over-year basis. As a group, analysts anticipate that Revolution Medicines will post -3.47 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel Jeff Cislini sold 2,399 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $40.83, for a total value of $97,951.17. Following the transaction, the general counsel now owns 47,088 shares in the company, valued at approximately $1,922,603.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $45.88, for a total transaction of $458,800.00. Following the transaction, the insider now owns 311,885 shares of the company’s stock, valued at $14,309,283.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Jeff Cislini sold 2,399 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $40.83, for a total value of $97,951.17. Following the completion of the sale, the general counsel now directly owns 47,088 shares of the company’s stock, valued at $1,922,603.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,221 shares of company stock worth $2,552,337. Corporate insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RVMD. Nisa Investment Advisors LLC boosted its holdings in shares of Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after acquiring an additional 320 shares during the period. Amalgamated Bank raised its position in Revolution Medicines by 7.4% in the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock valued at $205,000 after purchasing an additional 365 shares during the last quarter. Headlands Technologies LLC boosted its stake in Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the period. Clear Harbor Asset Management LLC grew its position in Revolution Medicines by 10.2% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock worth $436,000 after purchasing an additional 1,036 shares during the last quarter. Finally, Seven Eight Capital LP increased its stake in Revolution Medicines by 1.6% in the second quarter. Seven Eight Capital LP now owns 69,602 shares of the company’s stock valued at $2,701,000 after purchasing an additional 1,108 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

(Get Free Report)

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.

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