Alec Stranahan, an analyst from Bank of America Securities, reiterated the Buy rating on Revolution Medicines. The associated price target remains the same with $80.00.
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Alec Stranahan has given his Buy rating due to a combination of factors that highlight Revolution Medicines’ promising position in the oncology market. The company’s lead asset, daraxonrasib, shows a strong competitive edge in treating pancreatic ductal adenocarcinoma (PDAC) and non-small cell lung cancer (NSCLC), with pivotal data expected in 2026. This positions Revolution Medicines as a frontrunner among its peers, with significant potential for value creation as these trials progress.
Furthermore, the company’s strategic advancements, such as the initiation of multiple pivotal trials and the potential for accelerated approval timelines, underscore its growth trajectory. The recent National Priority Review designation for daraxonrasib in PDAC could expedite its market entry, enhancing its competitive advantage. These developments, coupled with promising early clinical data, support the Buy rating and the $80 price objective, reflecting confidence in the company’s future performance.
In another report released on October 27, Needham also maintained a Buy rating on the stock with a $66.00 price target.