The Goldman Sachs Group Initiates Coverage on Revolution Medicines (NASDAQ:RVMD)

The Goldman Sachs Group started coverage on shares of Revolution Medicines (NASDAQ:RVMD - Free Report) in a report published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $65.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. Oppenheimer raised their price objective on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Stifel Nicolaus dropped their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Guggenheim restated a "buy" rating and set a $80.00 price objective on shares of Revolution Medicines in a report on Wednesday, June 25th. Wedbush restated an "outperform" rating and set a $73.00 price objective (up from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Finally, HC Wainwright restated a "buy" rating and set a $72.00 price objective (down from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $68.91.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD traded down $0.41 during midday trading on Tuesday, reaching $38.65. 1,452,316 shares of the stock were exchanged, compared to its average volume of 1,620,218. The business has a 50-day simple moving average of $39.16 and a two-hundred day simple moving average of $39.34. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of -9.68 and a beta of 1.06. Revolution Medicines has a 12 month low of $29.17 and a 12 month high of $62.40.

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

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. Banque Transatlantique SA acquired a new stake in Revolution Medicines in the 1st quarter valued at $42,000. Quarry LP acquired a new stake in Revolution Medicines in the 1st quarter valued at $50,000. Twin Tree Management LP acquired a new stake in Revolution Medicines in the 1st quarter valued at $58,000. Sterling Capital Management LLC increased its stake in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after buying an additional 1,672 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Revolution Medicines by 368.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after purchasing an additional 1,613 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.