Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Consensus Recommendation of "Buy" from Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has been given an average rating of "Buy" by the eleven brokerages that are currently covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $68.91.

A number of research analysts have issued reports on the company. 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. HC Wainwright reaffirmed a "buy" rating and set a $72.00 target price (down from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Wedbush reaffirmed an "outperform" rating and set a $73.00 target price (up from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Guggenheim reaffirmed a "buy" rating and set a $80.00 target price on shares of Revolution Medicines in a research note on Wednesday, June 25th. Finally, Oppenheimer upped their target price on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RVMD. Banque Transatlantique SA purchased a new position in shares of Revolution Medicines in the 1st quarter valued at approximately $42,000. Quarry LP acquired a new position in shares of Revolution Medicines in the first quarter worth $50,000. Twin Tree Management LP acquired a new position in shares of Revolution Medicines in the first quarter worth $58,000. Sterling Capital Management LLC raised its holdings in shares of Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after acquiring an additional 1,672 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Revolution Medicines in the fourth quarter worth $104,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Down 1.9%

Shares of Revolution Medicines stock opened at $38.30 on Monday. The firm has a market capitalization of $7.13 billion, a P/E ratio of -9.58 and a beta of 1.06. The company has a 50 day moving average price of $39.11 and a 200 day moving average price of $39.23. 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 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 period in the previous year, the business earned ($0.70) earnings per share. As a group, research analysts anticipate 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.

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