Raymond James resumed coverage of Revolution Medicines (RVMD) with a Strong Buy rating and $72 price target The firm views the “broad activity” of daraxonrasib, a multi-selective inhibitor of the RAS protein, as an advantage over mutant selective approaches on response durability. It believes daraxonrasib is positioned to become the new standard of care in RAS-mutated advanced pancreatic cancer. In addition, Revolution is a “prime takeout target” despite the recent royalty and debt deal for daraxonrasib, contends Raymond James.
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