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

Revolution Medicines, Inc. (NASDAQ:RVMD) has received an average rating of “Buy” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $67.58.

RVMD has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Oppenheimer increased their target price on Revolution Medicines from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 target price on shares of Revolution Medicines in a research report on Tuesday. Guggenheim reaffirmed a “buy” rating and issued a $80.00 target price on shares of Revolution Medicines in a research report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $73.00 target price (up from $67.00) on shares of Revolution Medicines in a research report on Tuesday.

Revolution Medicines Trading Down 4.0%

RVMD stock opened at $38.41 on Thursday. The firm has a market cap of $7.15 billion, a P/E ratio of -9.60 and a beta of 1.10. Revolution Medicines has a 12-month low of $29.17 and a 12-month high of $62.40. The stock’s 50 day simple moving average is $39.59 and its 200 day simple moving average is $40.13.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results 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 period in the previous year, the business earned ($0.70) earnings per share. On average, research analysts forecast that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RVMD. IFP Advisors Inc acquired a new position in shares of Revolution Medicines in the 4th quarter valued at $34,000. Banque Transatlantique SA purchased a new stake in shares of Revolution Medicines during the 1st quarter worth about $42,000. Quarry LP purchased a new stake in shares of Revolution Medicines during the 1st quarter worth about $50,000. Twin Tree Management LP acquired a new position in shares of Revolution Medicines during the 1st quarter valued at about $58,000. Finally, Sterling Capital Management LLC increased its holdings in shares of Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after acquiring an additional 1,672 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

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.