Imagine running a fund for 30 years, including during the aftermath of the dot-com bubble bursting and the financial crisis of 2008, without a single losing year. If you’re Stanley Druckenmiller, no imagination is required. He achieved this feat for Duquesne Capital Management between 1981 and 2010, delivering an average annual return of roughly 30%.
Druckenmiller no longer runs Duquesne Capital Management after deciding to close shop in 2010. However, he does manage the Duquesne Family Office, a private investment firm that handles his and his family’s money.
With such an impressive track record, many investors understandably pay attention to which stocks Druckenmiller likes. And the billionaire continues to load up on Revolution Medicines (RVMD +1.01%), a biotech stock for which analysts have only modest near-term growth expectations. Does Druckenmiller know something that Wall Street doesn’t?
Stanley Druckenmiller. Image source: Getty Images.
The billionaire vs. Wall Street
Don’t get me wrong: Wall Street likes Revolution Medicines. Of the 22 analysts surveyed by S&P Global (SPGI +0.96%) in August, 21 rated the stock as a “buy” or “strong buy.” The lone outlier recommended holding it.
However, Revolution Medicines’ share price has skyrocketed over the last 12 months. Analysts don’t seem to think that this impressive momentum can continue. The consensus 12-month price target reflects only around 7% upside.
Today’s Change
(1.01%) $2.12
Current Price
$211.58
Key Data Points
Market Cap
Day’s Range
$205.39 – $211.95
52wk Range
$35.62 – $220.34
Volume
284
Avg Vol
2.5M
But Druckenmiller increased his family office’s stake in Revolution Medicines by 26.5% in the second quarter of 2026. He initiated a position in the biotech innovator the previous quarter.
What does the super-successful investor like about Revolution? There’s a simple answer to the question: the company’s pipeline.
Revolution Medicines awaits U.S. Food and Drug Administration (FDA) approval of daraxonrasib for previously treated metastatic pancreatic cancer. The company filed for FDA approval of the drug earlier this year after reporting positive results from a Phase 3 clinical trial. Revolution has also filed for European approval of daraxonrasib.
Analysts’ peak annual sales projections for the drug range from $5 billion to $7.6 billion, assuming it’s approved to treat pancreatic cancer. Revolution Medicines is evaluating daraxonrasib in a late-stage study to treat non-small cell lung cancer (NSCLC).
The company’s pipeline also features other promising candidates. Revolution is evaluating zoldonrasib in late-stage trials for treating both pancreatic cancer and NSCLC. It’s planning to advance elironrasib into a Phase 3 study targeting first-line NSCLC later this year. And Revolution has reported encouraging results from a Phase 1/2 study of RMC-5127 for the treatment of solid tumors.
Does Druckenmiller know a secret?
It’s doubtful that Druckenmiller knows anything about Revolution Medicines that Wall Street analysts don’t know. What he does have that they don’t, though, is a long-term perspective. He is focused on the future rather than the present and the past.
With a market cap hovering around $45 billion and no approved products yet, buying Revolution Medicines stock isn’t for the faint of heart. But Druckenmiller likes to swing for the fence. If daraxonrasib wins approval, his strategy could pay off handsomely.
