Piper Sandler Reiterates Overweight Rating on Revolution (RVMD)

Piper Sandler analyst Joseph Catanzaro reiterated an Overweight rating and $57.00 price target on Revolution (NASDAQ: RVMD).

The analyst commented, "At ESMO 2024, initial clinical data on Astellas's (ALPMY, not covered) KRAS G12D degrader, ASP3082, were reported. In our view, the early data reinforce RMC-6236's best-in-class efficacy in G12X (inclusive of G12D) PDAC where it is seeing significantly higher rates of disease control and better duration of clinical benefit vs. that of ASP3082. Separately, new randomized data presented at ESMO for a 5-FU/irinotecan regimen in 2L PDAC further support control arm assumptions for RMC-6236's planned Phase III study and what we see as a high likelihood of superiority for RMC-6236 (mPFS of 3.7 months for 5-FU/nal-IRI in this new ESMO dataset vs. mPFS of 8.1 months for RMC-6236). Overall, we believe that these data reinforce RMC-6236's strong positioning and potential for future success in 2L PDAC. Remain Overweight."

For an analyst ratings summary and ratings history on Revolution click here. For more ratings news on Revolution click here.

Shares of Revolution closed at $44.54 yesterday.

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