Promising Phase 1 Results for Revolution Medicines’ Zoldonrasib in NSCLC Support Buy Rating

Analyst Ami Fadia from Needham maintained a Buy rating on Revolution Medicines (RVMD – Research Report) and keeping the price target at $59.00.

Ami Fadia’s rating is based on the promising initial clinical data for Revolution Medicines’ zoldonrasib, a RAS(ON) G12D-selective inhibitor, in patients with non-small cell lung cancer (NSCLC). The Phase 1 study results showed a notable objective response rate (ORR) of 61% at a 1200 mg daily dosage, which is a significant improvement compared to previous data in pancreatic cancer patients.
The safety profile of zoldonrasib was consistent with earlier reports, although there were minor increases in Grade 3 treatment-related adverse events and dose interruptions. Despite these concerns, the higher clinical activity in G12D patients compared to other treatments, such as daraxonrasib, supports continued development of zoldonrasib both as a standalone therapy and in combination. This positive development, although in early stages and within a relatively small market, underpins the Buy rating for RVMD.

In another report released today, Barclays also maintained a Buy rating on the stock with a $72.00 price target.