Analyst Jonathan Chang of Leerink Partners reiterated a Buy rating on Revolution Medicines (RVMD – Research Report), boosting the price target to $66.00.
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Jonathan Chang’s rating is based on the promising updates from Revolution Medicines’ RAS(ON) pipeline, particularly in the treatment of non-small-cell lung cancer (NSCLC). The company has reported encouraging data from various combinations of its drugs, such as daraxonrasib and elironrasib, which show potential in different NSCLC treatment settings.
The initial efficacy data for daraxonrasib combined with standard-of-care agents in first-line RAS mutant NSCLC are promising, supporting further development. Additionally, the combination of elironrasib with pembrolizumab in first-line RAS G12C NSCLC has shown competitive safety and efficacy profiles. The data for elironrasib as a monotherapy and in combination with daraxonrasib in later-line settings also demonstrate potential benefits, reinforcing the overall positive outlook for Revolution Medicines’ innovative RAS(ON) platform.
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