Raymond James initiated coverage on Revolution Medicines Inc RVMD, noting that the October readout of RMC-6236 was compelling compared to historical SoC.
RMC-6236 is an oral, first-in-class RAS(ON) inhibitor designed to treat patients with cancers driven by a wide range of common RAS mutations.
The analyst initiates with an Outperform rating and a target price of $30.
Analyst Dane Leone writes that RVMD's proprietary technology allows the targeting of RAS mutations in the active state with the potential to differentiate from commercial inactive KRAS inhibitors with a larger total addressable market for KRAS G12X mutations.
Raymond James also said that the proposed initiating of two randomized Phase 3 studies for RMC-6236 (PDAC & NSCLC) during 2024 has a reasonable probability of success.
Price Action: RVMD shares are down 0.19% at $21.30 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
