News

Fintel reports that on January 5, 2024, B of A Securities upgraded their outlook for Revolution Medicines (NasdaqGS:RVMD) from Neutral to Buy .

Analyst Price Forecast Suggests 20.85% Upside

As of December 16, 2023, the average one-year price target for Revolution Medicines is 34.30. The forecasts range from a low of 26.26 to a high of $45.15. The average price target represents an increase of 20.85% from its latest reported closing price of 28.38.

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The projected annual revenue for Revolution Medicines is 18MM, a decrease of 30.24%. The projected annual non-GAAP EPS is -3.71.

What is the Fund Sentiment?

There are 426 funds or institutions reporting positions in Revolution Medicines. This is an increase of 52 owner(s) or 13.90% in the last quarter. Average portfolio weight of all funds dedicated to RVMD is 0.36%, a decrease of 1.62%. Total shares owned by institutions increased in the last three months by 1.62% to 120,626K shares. The put/call ratio of RVMD is 0.29, indicating a bullish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 10,572K shares representing 6.42% ownership of the company. In it's prior filing, the firm reported owning 10,290K shares, representing an increase of 2.67%. The firm increased its portfolio allocation in RVMD by 12.47% over the last quarter.

VGHCX - Vanguard Health Care Fund Investor Shares holds 6,450K shares representing 3.92% ownership of the company. In it's prior filing, the firm reported owning 3,969K shares, representing an increase of 38.46%. The firm increased its portfolio allocation in RVMD by 36.68% over the last quarter.

EcoR1 Capital holds 5,578K shares representing 3.39% ownership of the company. In it's prior filing, the firm reported owning 7,199K shares, representing a decrease of 29.06%. The firm increased its portfolio allocation in RVMD by 10.38% over the last quarter.

Price T Rowe Associates holds 5,095K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 5,019K shares, representing an increase of 1.49%. The firm increased its portfolio allocation in RVMD by 10.47% over the last quarter.

Nextech Invest holds 4,840K shares representing 2.94% ownership of the company. No change in the last quarter.

Revolution Medicines Background Information
(This description is provided by the company.)

Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses sophisticated structure-based drug discovery capabilities built upon deep chemical biology and cancer pharmacology know-how and innovative, proprietary technologies that enable the creation of small molecules tailored to unconventional binding sites.

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This story originally appeared on Fintel.

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