Brokerages Set Revolution Medicines, Inc. (NASDAQ:RVMD) PT at $68.82

Key Points

• Revolution Medicines, Inc. (NASDAQ:RVMD) has received a consensus recommendation of "Buy" from eleven analysts, with an average 12-month target price of $68.82.
• Institutional investors hold a significant stake in the company, owning 94.34% of its stock, with notable increases from hedge funds like CWM LLC and others in recent quarters.
• The company reported a quarterly earnings miss with an EPS of ($1.31), failing to meet the projected ($0.94) by ($0.37), while revenue showed minimal year-over-year growth.

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) have been given an average rating of "Buy" by the twelve brokerages that are presently covering the firm, MarketBeat reports. Twelve research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $68.6667.

Several analysts recently issued reports on RVMD shares. Guggenheim reissued a "buy" rating and set a $80.00 target price on shares of Revolution Medicines in a research note on Wednesday, June 25th. 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 report on Wednesday, May 14th. Needham & Company LLC dropped their target price on Revolution Medicines from $57.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Oppenheimer lifted their target price on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group began coverage on Revolution Medicines in a report on Tuesday, July 15th. They set a "buy" rating and a $65.00 price objective for the company.

Revolution Medicines Stock Performance

RVMD stock traded up $0.30 during trading on Friday, reaching $36.32. The stock had a trading volume of 1,391,929 shares, compared to its average volume of 1,886,910. Revolution Medicines has a 52 week low of $29.17 and a 52 week high of $62.40. The stock's 50 day moving average is $37.93 and its two-hundred day moving average is $38.57. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The firm has a market cap of $6.79 billion, a PE ratio of -8.07 and a beta of 1.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same period in the previous year, the company earned ($0.81) earnings per share. The company's revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts anticipate that Revolution Medicines will post -3.49 earnings per share for the current year.

Institutional Investors Weigh In On Revolution Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of RVMD. Boxer Capital Management LLC bought a new stake in Revolution Medicines during the 4th quarter valued at $187,184,000. Janus Henderson Group PLC raised its position in shares of Revolution Medicines by 54.5% in the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock worth $414,777,000 after acquiring an additional 3,346,755 shares in the last quarter. Lunate Capital Ltd bought a new position in shares of Revolution Medicines in the 1st quarter worth $77,658,000. 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 worth $579,498,000 after acquiring an additional 1,931,000 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Revolution Medicines in the 2nd quarter worth $62,584,000. 94.34% of the stock is owned by institutional investors.

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.