Revolution Medicines price target lowered to $80 from $87 at Guggenheim

Guggenheim analyst Michael Schmidt lowered the firm’s price target on Revolution Medicines (RVMD) to $80 from $87 and keeps a Buy rating on the shares after the company reported Q1 results and provided a pipeline update that provided additional visibility on its potential clinical development strategy for multi-RAS inhibitor daraxonrasib and G12C-selective RAS inhibitor elironrasib in first-line non-small cell lung cancer.