Revolution Medicines (NASDAQ:RVMD) Earns “Buy” Rating from Guggenheim

Guggenheim restated their buy rating on shares of Revolution Medicines (NASDAQ:RVMD) in a research note published on Wednesday morning,Benzinga reports. They currently have a $80.00 price target on the stock.

RVMD has been the subject of a number of other research reports. Oppenheimer upped their price objective on Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price target on shares of Revolution Medicines in a report on Tuesday. Wedbush restated an “outperform” rating and issued a $73.00 price target (up from $67.00) on shares of Revolution Medicines in a report on Tuesday. Finally, Stifel Nicolaus lowered their price target on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $67.58.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $38.41 on Wednesday. The firm has a market cap of $7.15 billion, a P/E ratio of -9.60 and a beta of 1.10. The business’s fifty day moving average is $39.59 and its two-hundred day moving average is $40.13. Revolution Medicines has a 52 week low of $29.17 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released 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 period in the prior year, the company posted ($0.70) earnings per share. On average, equities research analysts predict that Revolution Medicines will post -3.49 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company’s stock valued at $84,467,000 after purchasing an additional 167,997 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Revolution Medicines by 11.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock valued at $186,000 after purchasing an additional 434 shares in the last quarter. SG Americas Securities LLC grew its stake in Revolution Medicines by 516.0% in the first quarter. SG Americas Securities LLC now owns 18,103 shares of the company’s stock valued at $640,000 after purchasing an additional 15,164 shares in the last quarter. Wells Fargo & Company MN grew its stake in Revolution Medicines by 51.8% in the fourth quarter. Wells Fargo & Company MN now owns 88,327 shares of the company’s stock valued at $3,863,000 after purchasing an additional 30,155 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Revolution Medicines by 11.1% during the 4th quarter. American Century Companies Inc. now owns 641,646 shares of the company’s stock worth $28,066,000 after acquiring an additional 64,238 shares during the period. 94.34% of the stock is currently owned by institutional investors.

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.