Truist raises Revolution Medicines PT on lung cancer pipeline potential
RVMD•Truist raises price target and keeps buy rating
Brokerage Truist Securities raises its price target for Revolution Medicines RVMD.O to $231 from $210 and maintains a "buy" rating.
Truist says the recent advancement of elironrasib and zoldonrasib into late-stage studies in first-line non-small cell lung cancer (NSCLC) strengthens RVMD's position in RAS-targeted cancers. It sees both programs expanding RVMD's addressable market in lung cancer and supporting a more diversified RAS franchise.
The new price target represents 11.6% upside to the stock's last close. The brokerage continues to expect potential approval of daraxonrasib in previously treated pancreatic cancer in Q3 2026.
"While pricing remains an open question, mgmt expressed confidence that organizational, market access, patient-support and distribution capabilities will not be limiting factors," Truist says.
As of the last close, the stock has more than doubled year to date.
