Revolution Medicines, Inc. (NASDAQ:RVMD) Given Average Recommendation of "Buy" by Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has received an average recommendation of "Buy" from the twelve brokerages that are covering the firm, MarketBeat.com reports. Twelve equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $67.58.

A number of research firms have commented on RVMD. Guggenheim reissued a "buy" rating and issued a $80.00 target price on shares of Revolution Medicines in a report on Wednesday. Wedbush reaffirmed an "outperform" rating and set a $73.00 price target (up previously from $67.00) on shares of Revolution Medicines in a research note on Tuesday. HC Wainwright reaffirmed a "buy" rating and set a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Stifel Nicolaus dropped their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $57.00 price objective on shares of Revolution Medicines in a research report on Tuesday.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $38.41 on Thursday. The firm's fifty day moving average price is $39.59 and its 200 day moving average price is $40.13. Revolution Medicines has a 1-year low of $29.17 and a 1-year high of $62.40. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of -9.60 and a beta of 1.10.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released 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 prior year, the business earned ($0.70) earnings per share. As a group, analysts expect that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Revolution Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of RVMD. Vanguard Group Inc. raised its position in shares of Revolution Medicines by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after purchasing an additional 2,185,082 shares in the last quarter. Farallon Capital Management LLC raised its position in shares of Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after purchasing an additional 1,931,000 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Revolution Medicines by 8.9% in the 1st quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company's stock valued at $416,821,000 after purchasing an additional 966,230 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Revolution Medicines by 54.5% during the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock valued at $414,777,000 after acquiring an additional 3,346,755 shares in the last quarter. Finally, Baker BROS. Advisors LP raised its position in shares of Revolution Medicines by 4.9% during the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock valued at $347,163,000 after acquiring an additional 367,882 shares in the last quarter. Hedge funds and other institutional investors own 94.34% 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.

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