Oppenheimer raised the firm’s price target on Revolution Medicines to $45 from $43 and keeps an Outperform rating on the shares. Revolution Medicines provided a comprehensive update on the tri-complex platform highlighting several presentations at the AACR24, along with notable publications in Nature and Cancer Discovery, and the firm is particularly interested in the presentation and publication on RMC-6236, which further supports the development plan for RMC-6236 including dose selection and the study in additional tumor/mutation types, the analyst tells investors in a research note. Oppenheimer anticipates a data-heavy 2H with 5-6 data readouts that should drive additional upside.
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- Revolution Medicines upgraded to Strong Buy from Outperform at Raymond James
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