JPMorgan analyst Brian Cheng expects Revolution Medicines (RVMD) shares to trade “meaningfully lower” today after the Wall Street Journal reported Merck (MRK) is no longer in talks to acquire the company. The stock in premarket trading is down 21%, or $25.16, to $92.47. Feedback from investor discussions suggest the shares could trade into the $90s-$100s range, the analyst tells investors in a research note. JPMorgan, however, believes the report could also be perceived as a positive read-through to Revolution’s level of confidence in the outcome for daraxonrasib. It reiterates the stock as a top pick for 2026 with an Overweight rating and $92 price target
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RVMD:
- M&A News: Revolution Medicines (RVMD) Stock Plunges as Merck Ends Takeover Talks on Price Disagreement
- Revolution Medicines: Post‑Merger Volatility Creates Compelling Entry Point Ahead of Blockbuster PDAC Opportunity and 2026 Catalysts
- Revolution Medicines buyers will step in on weakness, says Stifel
- Merck no longer in talks to acquire Revolution Medicines, WSJ reports
- Revolution Medicines price target raised to $170 from $85 at Stifel