Revolution Medicines Price Target Rises to $195 on Key Trial Gains
RVMD•H.C. Wainwright raised Revolution Medicines’ price target to $195 from $169 after daraxonrasib doubled median survival and cut death risk by 60% in a pivotal Phase 3 trial. The stock hit a 52-week high of $164.22, pushing market capitalization to about $34.2 billion.
1. Price Target Raised to $195
H.C. Wainwright raised its price target on Revolution Medicines to $195 from $169, reflecting confidence after key Phase 3 daraxonrasib data.
2. Phase 3 Trial Results
The pivotal Phase 3 trial showed daraxonrasib doubled median overall survival and cut the risk of death by 60%, alongside notable progression-free survival gains and a manageable safety profile.
3. Market Reaction
The stock reached a 52-week high of $164.22, boosting market capitalization to about $34.2 billion as investors responded to the breakthrough data.
