Stifel raised the firm’s price target on Revolution Medicines (RVMD) to $47 from $37 and keeps a Buy rating on the shares ahead of the company presenting data next month for RMC-6236 at two medical meetings. The firm has “become more bullish here” as dose escalation has progressed well beyond the doses provided in the initial disclosure and believes the recently announced deal to acquire EQRx (EQRX) in an all-stock transaction “implies that (management) is confident into near-term updates,” the analyst tells investors.
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>>
See the top stocks recommended by analysts >>
Read More on RVMD:
- Revolution Medicines Doses First Patient in Phase 1/1b Clinical Trial of RMC-9805, an Oral, Covalent, Mutant-Selective KRASG12D(ON) Inhibitor
- Revolution Medicines doses first patient in Phase 1/1b trial of RMC-9805
- JPMorgan ups Revolution Medicines target, adds to Analyst Focus List
- Revolution Medicines Announces Publication Describing Molecular Basis of Tri-Complex Inhibitors Targeting Oncogenic RAS(ON) Proteins
- Revolution Medicines publishes KRASG12C-selective inhibitors data in Science