Revolution Medicines (NASDAQ:RVMD) Given "Buy" Rating at Guggenheim

Revolution Medicines (NASDAQ:RVMD - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $80.00 target price on the stock. Guggenheim's price objective would suggest a potential upside of 108.28% from the company's current price.

Other analysts have also recently issued research reports about the company. Wedbush reissued an "outperform" rating and set a $73.00 price objective (up previously from $67.00) on shares of Revolution Medicines in a research report on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $57.00 price target on shares of Revolution Medicines in a report on Tuesday. Stifel Nicolaus lowered their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. HC Wainwright reaffirmed a "buy" rating and set a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Finally, Oppenheimer boosted their target price on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $67.58.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD traded down $1.62 during mid-day trading on Wednesday, reaching $38.41. The company had a trading volume of 2,988,027 shares, compared to its average volume of 1,555,806. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of -9.60 and a beta of 1.10. The stock has a fifty day moving average of $39.55 and a two-hundred day moving average of $40.14. 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 released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter in the previous year, the business posted ($0.70) EPS. Sell-side analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock worth $84,467,000 after purchasing an additional 167,997 shares during the period. Russell Investments Group Ltd. grew its holdings in Revolution Medicines by 11.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock valued at $186,000 after buying an additional 434 shares during the last quarter. SG Americas Securities LLC increased its position in Revolution Medicines by 516.0% in the 1st quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock worth $640,000 after buying an additional 15,164 shares during the period. Wells Fargo & Company MN increased its position in Revolution Medicines by 51.8% in the 4th quarter. Wells Fargo & Company MN now owns 88,327 shares of the company's stock worth $3,863,000 after buying an additional 30,155 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Revolution Medicines by 11.1% during the fourth quarter. American Century Companies Inc. now owns 641,646 shares of the company's stock worth $28,066,000 after buying an additional 64,238 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

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.