Revolution Medicines’ (RVMD) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Revolution Medicines (NASDAQ:RVMD) in a research note released on Tuesday,RTT News reports. Wedbush currently has a $73.00 price objective on the stock, up from their prior price objective of $67.00.

Several other research firms have also recently weighed in on RVMD. Stifel Nicolaus dropped 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. Oppenheimer lifted 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Revolution Medicines in a report on Tuesday. Guggenheim dropped their price objective on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $72.00 price objective (down from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and a consensus price target of $67.58.

Revolution Medicines Trading Down 2.4%

NASDAQ:RVMD opened at $37.48 on Tuesday. The stock has a market cap of $6.98 billion, a P/E ratio of -9.37 and a beta of 1.10. The stock has a 50 day simple moving average of $39.61 and a 200 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 released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same period last year, the business earned ($0.70) earnings per share. As a group, sell-side analysts forecast that Revolution Medicines will post -3.49 EPS for the current year.

Hedge Funds Weigh In On Revolution Medicines

Institutional investors have recently modified their holdings of the business. IFP Advisors Inc acquired a new position in shares of Revolution Medicines during the 4th quarter worth $34,000. Banque Transatlantique SA acquired a new position in shares of Revolution Medicines during the 1st quarter worth $42,000. Quarry LP acquired a new position in shares of Revolution Medicines during the 1st quarter worth $50,000. Twin Tree Management LP acquired a new position in shares of Revolution Medicines during the 1st quarter worth $58,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after buying an additional 1,672 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.