Revolution Medicines’ (RVMD) Outperform Rating Reaffirmed at Wedbush

by · The Markets Daily

Wedbush reaffirmed their outperform rating on shares of Revolution Medicines (NASDAQ:RVMD – Free Report) in a report published on Tuesday,RTT News reports. They currently have a $73.00 price target on the stock, up from their previous price target of $67.00.

RVMD has been the topic of a number of other research reports. Guggenheim reduced their price objective on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC restated a “buy” rating and set a $57.00 price objective on shares of Revolution Medicines in a research report on Tuesday. Oppenheimer boosted their price objective on Revolution Medicines from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Stifel Nicolaus reduced their price objective 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and an average target price of $67.58.

Check Out Our Latest Report on Revolution Medicines

Revolution Medicines Stock Down 2.4%

Shares of RVMD stock opened at $37.48 on Tuesday. The firm has a market capitalization of $6.98 billion, a P/E ratio of -9.37 and a beta of 1.10. Revolution Medicines has a twelve month low of $29.17 and a twelve month high of $62.40. The stock’s fifty day simple moving average is $39.61 and its 200 day simple moving average is $40.06.

Revolution Medicines (NASDAQ:RVMD – Get Free Report) last issued its quarterly earnings data 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 period last year, the company posted ($0.70) earnings per share. As a group, equities research analysts expect that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Revolution Medicines

A number of large investors have recently made changes to their positions in RVMD. Boxer Capital Management LLC purchased a new stake in shares of Revolution Medicines in the fourth quarter worth $187,184,000. Janus Henderson Group PLC raised its position in Revolution Medicines by 54.5% during the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company’s stock valued at $414,777,000 after purchasing an additional 3,346,755 shares in the last quarter. Lunate Capital Ltd purchased a new stake in Revolution Medicines during the first quarter valued at about $77,658,000. Vanguard Group Inc. raised its position in Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock valued at $747,799,000 after purchasing an additional 2,185,082 shares in the last quarter. Finally, Farallon Capital Management LLC raised its position in Revolution Medicines by 17.1% during the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock valued at $579,498,000 after purchasing an additional 1,931,000 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

About Revolution Medicines

(Get Free Report)

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.

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