RBC Capital analyst Leonid Timashev raised the firm’s price target on Revolution Medicines (RVMD) to $140 from $77 and keeps an Outperform rating on the shares. The firm updated models for several biotech companies after meeting with managements. Recent “investor excitement: about the potential for a buyout has driven Revolution share prices up substantially, which are trading more on sentiment currently, the analyst tells investors in a research note. RBC says a deal is “more likely than not.”
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:
- Revolution Medicines price target raised to $160 from $92 at Guggenheim
- Private Markets: SpaceX interviews banks to lead IPO, Skild AI raises $1.4B
- Expanding RAS-Targeted Franchise and Late-Stage Pipeline Drive Buy Rating on Revolution Medicines
- Merck Sees $70B Revenue Potential From New Growth Drivers by Mid-2030s
- Revolution Medicines: Clinical Momentum and Strategic Phase 3 Design Support Buy Rating on RVMD