Revolution (RVMD) PT Raised to $55 at Oppenheimer

Oppenheimer analyst Jay Olson raised the price target on Revolution (NASDAQ: RVMD) to $55.00 (from $45.00) while maintaining a Outperform rating.

The analyst commented: "RVMD provided incremental updates on '6236 in PDAC, exceeding high expectations previously set by investors as RVMD's shares are up by 63.0% YTD (vs. NBI +8.2%). We believe today's update demonstrates '6236's highly differentiated MoA and clinical profile, while further derisking the Ph3 program with the potential to address a wide range of patients as RAS mutations are present in >90% of PDAC cases (mostly KRAS mutations). In addition, we believe 6236's profile also supports the 1L opportunity, as only a small fraction of PDAC patients receive a 2L treatment in the real-world. Based on these '6236 updates in PDAC, we update our model with a new $55 PT (prior $45) driven by a higher PoS for '6236 (70% in 2L, 50% in 1L)."

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