H.C. Wainwright analyst Robert Burns has reiterated their bullish stance on RVMD stock, giving a Buy rating on June 25.
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Robert Burns has given his Buy rating due to a combination of factors surrounding Revolution Medicines’ recent clinical collaboration with Summit Therapeutics. This partnership aims to explore the efficacy and safety of Revolution’s RAS(ON) inhibitors, such as daraxonrasib, zoldonrasib, and elironrasib, in combination with Summit’s ivonescimab. The collaboration is seen as strategically sound, given the promising preclinical data supporting the potential of these combinations in treating solid tumors.
Additionally, the impressive objective response rate (ORR) observed in trials involving elironrasib combined with Keytruda, particularly in the 1L NSCLC TPS >50% setting, further supports the Buy rating. Although the sample size for these trials is small, the initial safety results appear favorable, with no significant adverse effects noted. The non-overlapping toxicities between Revolution’s agents and VEGF-related treatments also contribute to the positive outlook for these combinations, reinforcing the potential for successful clinical outcomes.
According to TipRanks, Burns is an analyst with an average return of -16.6% and a 29.68% success rate. Burns covers the Healthcare sector, focusing on stocks such as BioNTech SE, Bicara Therapeutics Inc., and Exelixis.
In another report released on June 25, Barclays also maintained a Buy rating on the stock with a $72.00 price target.