Revolution Medicines price target raised to $76 from $72 at Raymond James

Raymond James raised the firm’s price target on Revolution Medicines (RVMD) to $76 from $72 and keeps a Strong Buy rating on the shares. RevMed’s daraxonrasib has been included in the FDA’s Commisioner’s National Priority Review Voucher program aimed at “Reducing downstream health care utilization, addressing a public health crisis, boosting domestic manufacturing, or increasing medication affordability with Most Favored Nation pricing,” the analyst tells investors in a research note. The inclusion should truncate the time for daraxonrasib to reach the market in 2L RASmut pancreatic cancer, the firm says.