Brokerages Set Revolution Medicines, Inc. (NASDAQ:RVMD) PT at $68.91

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) have been given an average rating of "Buy" by the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $68.91.

A number of brokerages have issued reports on RVMD. Guggenheim reaffirmed a "buy" rating and set a $80.00 price objective on shares of Revolution Medicines in a report on Wednesday, June 25th. Oppenheimer increased their price objective on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and set a $72.00 target price (down from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Needham & Company LLC reiterated a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a research report on Tuesday, June 24th. Finally, Wedbush reiterated an "outperform" rating and set a $73.00 target price (up from $67.00) on shares of Revolution Medicines in a research report on Tuesday, June 24th.

Institutional Trading of Revolution Medicines

A number of institutional investors have recently bought and sold shares of the stock. Maryland State Retirement & Pension System bought a new stake in Revolution Medicines in the second quarter worth $310,000. KLP Kapitalforvaltning AS lifted its position in shares of Revolution Medicines by 4.7% during the second quarter. KLP Kapitalforvaltning AS now owns 28,904 shares of the company's stock worth $1,063,000 after purchasing an additional 1,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Revolution Medicines by 15.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,195 shares of the company's stock worth $265,000 after purchasing an additional 974 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Revolution Medicines during the second quarter worth $1,980,000. Finally, Clear Harbor Asset Management LLC lifted its position in shares of Revolution Medicines by 16.1% during the second quarter. Clear Harbor Asset Management LLC now owns 13,716 shares of the company's stock worth $505,000 after purchasing an additional 1,905 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Trading Down 0.8%

Revolution Medicines stock traded down $0.31 during midday trading on Monday, hitting $37.22. The stock had a trading volume of 1,979,735 shares, compared to its average volume of 2,916,353. Revolution Medicines has a 52-week low of $29.17 and a 52-week high of $62.40. The firm's fifty day moving average is $38.93 and its two-hundred day moving average is $39.13. The company has a market capitalization of $6.93 billion, a PE ratio of -9.31 and a beta of 1.06.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter last year, the firm earned ($0.70) EPS. As a group, equities research analysts predict that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

About Revolution Medicines

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.