Bar remains unchanged for Erasca after Revolution’s ‘clear win,’ says Jefferies

Jefferies calls Revolution Medicines’ (RVMD) Phase 3 results in second-line pancreatic ductal adenocarcinoma “a clear win” for daraxonrasib, but adds that results were consistent with Revolution’s Phase 2 and showed no safety surprises, keeping the bar for Erasca (ERAS) unchanged. The firm keeps a Buy rating and $21 price target on Erasca shares, which are down $1.50, or 9%, to $15.51 near midday.