Revolution Medicines (NASDAQ:RVMD) Upgraded to “Strong-Buy” at The Goldman Sachs Group

by · The Markets Daily

The Goldman Sachs Group upgraded shares of Revolution Medicines (NASDAQ:RVMD – Free Report) to a strong-buy rating in a report issued on Thursday morning,Zacks reports.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada raised their price objective on shares of Revolution Medicines from $203.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Guggenheim boosted their price target on shares of Revolution Medicines from $240.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Raymond James Financial reiterated a “strong-buy” rating and set a $248.00 target price on shares of Revolution Medicines in a research report on Thursday, August 27th. TD Cowen raised Revolution Medicines to a “strong-buy” rating in a research report on Monday, August 24th. Finally, Evercore reiterated an “outperform” rating and issued a $320.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 27th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and an average price target of $230.15.

Read Our Latest Stock Analysis on Revolution Medicines

Revolution Medicines Price Performance

RVMD stock opened at $199.86 on Thursday. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $42.84 billion, a PE ratio of -22.66 and a beta of 1.40. The business’s fifty day moving average price is $200.44 and its 200 day moving average price is $162.63. Revolution Medicines has a 12-month low of $42.18 and a 12-month high of $224.31.

Revolution Medicines (NASDAQ:RVMD – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the previous year, the firm posted ($1.31) earnings per share. On average, sell-side analysts anticipate that Revolution Medicines will post -8.87 EPS for the current year.

Insiders Place Their Bets

In other Revolution Medicines news, Director Elizabeth M. Anderson sold 10,143 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.04, for a total value of $1,958,004.72. Following the completion of the sale, the director owned 4,333 shares of the company’s stock, valued at approximately $836,442.32. This trade represents a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the transaction, the director directly owned 21,656 shares of the company’s stock, valued at $4,071,111.44. The trade was a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 290,262 shares of company stock valued at $59,196,448. 7.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Contravisory Investment Management Inc. purchased a new position in Revolution Medicines during the second quarter worth $32,000. ABS Investment Management LLC acquired a new position in Revolution Medicines in the 2nd quarter valued at about $337,104,000. Johnson Financial Group Inc. purchased a new position in Revolution Medicines in the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Revolution Medicines during the 2nd quarter worth about $41,000. Finally, Silvant Capital Management LLC purchased a new stake in shares of Revolution Medicines during the second quarter worth about $41,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

(Get Free Report)

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.

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