Stifel Nicolaus Initiates Coverage on Revolution Medicines (NASDAQ:RVMD)

Stock analysts at Stifel Nicolaus assumed coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a research report issued to clients and investors on Wednesday, PriceTargets.com reports. The firm set a “hold” rating and a $34.00 price target on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 6.52% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Guggenheim cut their price target on shares of Revolution Medicines from $52.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 12th. SVB Leerink cut their target price on shares of Revolution Medicines from $46.00 to $38.00 and set an “outperform” rating on the stock in a research note on Thursday, August 12th. Zacks Investment Research lowered shares of Revolution Medicines from a “hold” rating to a “sell” rating in a research note on Tuesday, August 17th. The Goldman Sachs Group lowered shares of Revolution Medicines from a “buy” rating to a “neutral” rating and cut their target price for the stock from $49.00 to $27.00 in a research note on Thursday, August 12th. Finally, HC Wainwright cut their target price on shares of Revolution Medicines from $55.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, August 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Revolution Medicines has an average rating of “Hold” and a consensus target price of $34.67.

Shares of RVMD stock opened at $31.92 on Wednesday. The company’s 50-day moving average price is $28.62 and its 200-day moving average price is $33.95. Revolution Medicines has a twelve month low of $21.78 and a twelve month high of $56.18. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -15.42 and a beta of 2.06.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 11th. The company reported ($0.60) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.04). Revolution Medicines had a negative net margin of 355.11% and a negative return on equity of 23.94%. The company had revenue of $8.70 million during the quarter, compared to analyst estimates of $10.81 million. On average, analysts expect that Revolution Medicines will post -2.45 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in RVMD. Carolinas Wealth Consulting LLC acquired a new position in Revolution Medicines in the second quarter valued at approximately $32,000. First Mercantile Trust Co. acquired a new stake in shares of Revolution Medicines during the first quarter worth $78,000. Nisa Investment Advisors LLC lifted its holdings in shares of Revolution Medicines by 64.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,470 shares of the company’s stock worth $78,000 after purchasing an additional 970 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Revolution Medicines by 133.2% during the second quarter. Great West Life Assurance Co. Can now owns 2,526 shares of the company’s stock worth $80,000 after purchasing an additional 1,443 shares during the period. Finally, FORA Capital LLC acquired a new stake in shares of Revolution Medicines during the second quarter worth $82,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.

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Analyst Recommendations for Revolution Medicines (NASDAQ:RVMD)

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