Wedbush analyst Robert Driscoll maintains $Revolution Medicines (RVMD.US)$ with a buy rating, and adjusts the target price from $70 to $67.
According to TipRanks data, the analyst has a success rate of 38.6% and a total average return of 2.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Revolution Medicines (RVMD.US)$'s main analysts recently are as follows:
The firm is updating its model following the company's completion of an upsized public offering of $862.5 million in common stock. Additionally, there remains notable potential for Revolution Medicines' RAS-ON platform, which could be enhanced either by the combination of two RAS-ON drugs or through integration with other treatments.
Revolution Medicines recently priced an offering to sell approximately 19M common shares plus 2.17M in pre-funded warrants at $46/share, raising gross proceeds of $862.5M. This followed additional data for RMC-6236 in non-small cell lung cancer, demonstrating an encouraging 38% overall response rate and 9.8 month-mPFS in median 3L RAS-mutant NSCLC patients. Analysts continue to believe that RAS(ON) inhibitors will transform standards of care in NSCLC, pancreatic ductal adenocarcinoma, and other RAS-mutant solid tumors, viewing the recent pullback in Revolution Medicines' stock as an attractive entry point.
Note:
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