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

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been given an average recommendation of “Buy” by the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $66.31.

Several brokerages have commented on RVMD. Needham & Company LLC cut their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus decreased their target price on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. UBS Group boosted their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, HC Wainwright increased their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc acquired a new stake in shares of Revolution Medicines in the 4th quarter valued at about $34,000. Quarry LP bought a new position in Revolution Medicines in the third quarter worth approximately $82,000. Sterling Capital Management LLC boosted its holdings in 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 in the last quarter. Farther Finance Advisors LLC grew its stake in Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after acquiring an additional 1,613 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Revolution Medicines during the fourth quarter valued at approximately $104,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $39.13 on Tuesday. The company has a 50 day simple moving average of $40.98 and a 200 day simple moving average of $45.86. Revolution Medicines has a 1 year low of $29.55 and a 1 year high of $62.40. The firm has a market cap of $7.27 billion, a PE ratio of -10.90 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, research analysts anticipate that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

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.