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Revolution Medicines Hits New All-Time Highs
6 Dec
Summary
- Revolution Medicines stock reached fresh all-time highs on December 3rd.
- The company has a 100% technical 'Buy' opinion from Barchart.
- RVMD's shares have appreciated by nearly 60% over the past year.
Revolution Medicines, a clinical-stage oncology company with a $15 billion market capitalization, has reached new all-time highs. The company is dedicated to developing targeted therapies for cancers driven by mutations in RAS proteins. Its stock achieved a record price of $79.07 on December 3rd.
Technical indicators for RVMD are overwhelmingly positive, with Barchart issuing a 100% 'Buy' opinion. The stock has demonstrated significant momentum, gaining 96.53% since its Trend Seeker 'Buy' signal on September 2nd. Over the past year, RVMD shares have surged by 58.75%, and in the last month, it made 14 new highs, increasing by 30.78%.
While Barchart's technical analysis is strongly bullish, with a Weighted Alpha of +109.79 and an RSI of 80.28, fundamental projections indicate a substantial revenue increase of 903.48% next year, although earnings are expected to decrease by 12.15%. Wall Street analysts also express a largely positive sentiment towards Revolution Medicines.
