BofA analyst Alex Stranahan raised the firm’s price target on Revolution Medicines (RVMD) to $80 from $78 and keeps a Buy rating on the shares after the company was awarded one of the nine Commissioner’s National Priority Review Vouchers for daraxonrasib in pancreatic cancer. A NPRV shortens the review timeline from the standard 10-12 months to 1-2 months following filing of a complete application with the FDA, notes the analyst, who moves the firm’s launch expectation in second-line pancreatic ductal adenocarcinoma forward to 2026 from 2027 previously projected.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RVMD:
- Morning Movers: Regional banks in focus after reporting Q3 results
- Revolution Medicines price target raised to $76 from $72 at Raymond James
- Revolution Medicines Receives FDA Voucher for Daraxonrasib
- Promising Prospects for Revolution Medicines: Buy Rating Affirmed on Daraxonrasib’s CNPV Designation
- Revolution Medicines awarded voucher for Daraxonrasib by FDA