Needham analyst Ami Fadia has reiterated their bullish stance on RVMD stock, giving a Buy rating today.
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Ami Fadia has given her Buy rating due to a combination of factors influencing Revolution Medicines’ current and future prospects. Despite the company’s second-quarter earnings per share being lower than expected, primarily due to increased research and development and selling, general, and administrative expenses, the decision to pursue global development and commercialization independently is seen as a strategic move that could yield long-term benefits.
Moreover, the company’s ongoing efforts in pipeline development and the enhancement of in-house commercialization capabilities are viewed positively. The anticipated additional data on the dara plus chemo combination later this year, focusing on safety and tolerability, is expected to support the company’s growth trajectory. Consequently, while the price target has been adjusted, the overall outlook remains optimistic, justifying the Buy rating.
Fadia covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals, Alkermes, and Jazz Pharmaceuticals. According to TipRanks, Fadia has an average return of 5.2% and a 46.21% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $72.00 price target.