Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Average Rating of "Buy" from Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has been given a consensus recommendation of "Buy" by the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $67.58.

A number of equities research analysts recently commented on RVMD shares. HC Wainwright reiterated a "buy" rating and issued a $72.00 target price (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Oppenheimer boosted their price target on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wedbush reissued an "outperform" rating and issued a $73.00 price target (up from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Needham & Company LLC reissued a "buy" rating and issued a $57.00 price target on shares of Revolution Medicines in a report on Tuesday, June 24th. Finally, Stifel Nicolaus decreased their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, April 1st.

Institutional Trading of Revolution Medicines

A number of institutional investors and hedge funds have recently made changes to their positions in RVMD. Boxer Capital Management LLC purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $187,184,000. Janus Henderson Group PLC increased its position in shares of Revolution Medicines by 54.5% during the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock worth $414,777,000 after purchasing an additional 3,346,755 shares in the last quarter. Lunate Capital Ltd purchased a new stake in shares of Revolution Medicines during the first quarter worth approximately $77,658,000. Vanguard Group Inc. increased its position in shares of Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock worth $747,799,000 after purchasing an additional 2,185,082 shares in the last quarter. Finally, Farallon Capital Management LLC increased its position in shares of Revolution Medicines by 17.1% during the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock worth $579,498,000 after purchasing an additional 1,931,000 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Performance

NASDAQ RVMD traded down $0.57 during trading hours on Thursday, reaching $36.91. The stock had a trading volume of 26,349,235 shares, compared to its average volume of 1,655,141. The stock has a fifty day moving average of $39.61 and a 200 day moving average of $39.91. The stock has a market cap of $6.88 billion, a P/E ratio of -9.23 and a beta of 1.10. Revolution Medicines has a 52-week low of $29.17 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter in the previous year, the firm posted ($0.70) earnings per share. On average, equities research analysts forecast that Revolution Medicines will post -3.49 EPS for the current year.

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.