Revolution Medicines’ (RVMD) Buy Rating Reiterated at Guggenheim

Revolution Medicines (NASDAQ:RVMD)‘s stock had its “buy” rating restated by stock analysts at Guggenheim in a research note issued on Wednesday,Benzinga reports. They currently have a $80.00 target price on the stock. Guggenheim’s target price points to a potential upside of 113.45% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Wedbush reiterated 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. Stifel Nicolaus decreased their target price on shares of 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 reiterated 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. Needham & Company LLC reiterated a “buy” rating and set a $57.00 target price on shares of Revolution Medicines in a research note on Tuesday. Finally, Oppenheimer boosted their target price on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $67.58.

Revolution Medicines Trading Down 2.4%

Shares of RVMD opened at $37.48 on Wednesday. The firm has a market cap of $6.98 billion, a PE ratio of -9.37 and a beta of 1.10. The firm has a fifty day simple moving average of $39.61 and a two-hundred day simple moving average of $40.06. Revolution Medicines has a 1-year low of $29.17 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its 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 quarter last year, the firm posted ($0.70) EPS. As a group, research analysts forecast that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds have recently modified their holdings of RVMD. CIBC Asset Management Inc grew its position in shares of Revolution Medicines by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock valued at $220,000 after acquiring an additional 270 shares during the period. New York State Common Retirement Fund grew its position in shares of Revolution Medicines by 12.9% during the 4th quarter. New York State Common Retirement Fund now owns 63,601 shares of the company’s stock valued at $2,782,000 after acquiring an additional 7,244 shares during the period. IFP Advisors Inc bought a new stake in shares of Revolution Medicines during the 4th quarter valued at $34,000. Bank of New York Mellon Corp boosted its holdings in Revolution Medicines by 6.9% in the 4th quarter. Bank of New York Mellon Corp now owns 569,015 shares of the company’s stock worth $24,889,000 after buying an additional 36,705 shares during the period. Finally, Amalgamated Bank boosted its holdings in Revolution Medicines by 8.3% in the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company’s stock worth $250,000 after buying an additional 435 shares during the period. Institutional investors 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.