Oppenheimer analyst Jay Olson has reaffirmed the "Outperform" rating for Revolution Medicines (RVMD, Financial) while raising the price target from $70.00 to $75.00. This adjustment reflects a 7.14% increase in the price target.
The revised price target, now set at $75.00, suggests that Oppenheimer sees continued potential for Revolution Medicines (RVMD, Financial) despite current market conditions. The stock continues to hold an "Outperform" rating, indicating positive future prospects according to Oppenheimer's analysis.
Investors may consider this analyst update as an indicator of growing confidence in Revolution Medicines' (RVMD, Financial) strategic initiatives and market performance. With this new target, Oppenheimer aims to highlight potential growth opportunities in the biotechnology sector.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for Revolution Medicines Inc (RVMD, Financial) is $72.55 with a high estimate of $88.00 and a low estimate of $57.00. The average target implies an upside of 71.02% from the current price of $42.42. More detailed estimate data can be found on the Revolution Medicines Inc (RVMD) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, Revolution Medicines Inc's (RVMD, Financial) average brokerage recommendation is currently 1.5, indicating "Buy" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Revolution Medicines Inc (RVMD, Financial) in one year is $0.35, suggesting a downside of 99.17% from the current price of $42.42. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Revolution Medicines Inc (RVMD) Summary page.
