Revolution Medicines (NASDAQ:RVMD) Posts Earnings Results

Revolution Medicines (NASDAQ:RVMD) issued its quarterly earnings results on Wednesday. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.05, Briefing.com reports. The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.72) EPS.

Revolution Medicines Stock Performance

RVMD traded down $0.52 on Thursday, hitting $37.79. 733,087 shares of the company were exchanged, compared to its average volume of 1,344,738. Revolution Medicines has a fifty-two week low of $15.44 and a fifty-two week high of $40.21. The business’s fifty day moving average is $33.59 and its 200 day moving average is $28.45. The firm has a market capitalization of $6.44 billion, a P/E ratio of -10.16 and a beta of 1.46.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Revolution Medicines in a research note on Monday, March 11th. They set an “overweight” rating and a $43.00 price target on the stock. Wedbush upped their price objective on Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $46.00 price target on shares of Revolution Medicines in a report on Thursday. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $36.00 to $48.00 in a report on Wednesday, April 10th. Finally, Oppenheimer increased their price target on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus price target of $41.60.

Insiders Place Their Bets

In related news, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the transaction, the chief financial officer now owns 101,959 shares in the company, valued at $4,081,418.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Revolution Medicines news, COO Margaret A. Horn sold 2,914 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total value of $92,024.12. Following the completion of the sale, the chief operating officer now owns 139,553 shares of the company’s stock, valued at $4,407,083.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $40.03, for a total value of $400,300.00. Following the completion of the transaction, the chief financial officer now directly owns 101,959 shares in the company, valued at $4,081,418.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,705 shares of company stock valued at $1,031,049. Corporate insiders own 8.50% of the company’s stock.

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.