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

Revolution Medicines, Inc. (NASDAQ:RVMD) has received an average rating of “Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $66.31.

RVMD has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price objective on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Guggenheim raised their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, February 27th. UBS Group lifted their target price 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 boosted their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd.

Revolution Medicines Price Performance

RVMD opened at $39.13 on Tuesday. Revolution Medicines has a fifty-two week low of $29.55 and a fifty-two week high of $62.40. The firm has a market capitalization of $7.27 billion, a PE ratio of -10.90 and a beta of 1.46. The company’s 50-day moving average is $40.98 and its 200 day moving average is $45.86.

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

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently bought and sold shares of RVMD. IFP Advisors Inc purchased a new position in shares of Revolution Medicines during the 4th quarter valued at $34,000. Quarry LP bought a new stake in Revolution Medicines in the 3rd quarter valued at about $82,000. Sterling Capital Management LLC raised 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 acquiring an additional 1,672 shares during the period. Farther Finance Advisors LLC lifted its holdings in Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Revolution Medicines during the fourth quarter worth about $104,000. 94.34% of the stock is owned by institutional investors.

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.