Stifel analyst Benjamin Burnett lowered the firm’s price target on Revolution Medicines (RVMD) to $64 from $78 and keeps a Buy rating on the shares. Accounting the intellectual property runway, competition and historical oncology drug launches, the firm believes that the companies four opportunities combined are worth upwards of $69 per share, but it now includes a more conservative view of competition and duration-of-therapy, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RVMD:
- Erasca initiated with an Outperform at Raymond James
- Revolution Medicines price target raised to $73 from $72 at H.C. Wainwright
- Revolution Medicines’ Earnings Call: Positive Progress Amid Rising Costs
- Revolution Medicines Reports 2024 Financial Results and Progress
- Revolution Medicines reports Q4 EPS ($1.12), consensus (96c)