Revolution (RVMD) PT Raised to $45 at Oppenheimer, 'readouts should drive additional upside'

Oppenheimer analyst Jay Olson raised the price target on Revolution (NASDAQ: RVMD) to $45.00 (from $43.00) while maintaining a Outperform rating.

The analyst commented: 'RVMD provided a comprehensive update on the tri-complex platform highlighting several presentations at the AACR24, along with notable publications in Nature and Cancer Discovery. We are particularly interested in the presentation and publication on '6236 (multi), which in our view further supports the development plan for '6236 including dose selection and the study in additional tumor/mutation types. We summarized some key data and takeaways from '6236 updates below. Additional preclinical data shared at the AACR24 include '9805 (G12D, structure disclosed), '5127 (G12V), and combination potential of '6236 with '6291 (G12C). With RVMD's current share price now recovering from last-year's ESMO debate, we anticipate a data-heavy 2H with 5-6 data readouts that should drive additional upside. We maintain Outperform.'

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