Truist assumed coverage of Revolution Medicines (RVMD) with a Buy rating and price target of $179, up from $116. The firm views daraxon as the “leading anchor” across RAS-mutant cancers. The drug could capture over 70% of the pancreatic ductal adenocarcinoma addressable market, the analyst tells investors in a research note. Truist sees Revolution’s “first-in-class positioning, high efficacy barrier, and broad trial footprint, as supporting a durable moat and competitive offense.”
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