Jim Cramer Shares Why Revolution Medicines (RVMD) is Extraordinary

We recently published Jim Cramer Discussed AI “Mojo” & Commented On These 13 Stocks. Revolution Medicines, Inc. (NASDAQ:RVMD) is one of the stocks discussed by Jim Cramer.

Revolution Medicines, Inc. (NASDAQ:RVMD) is a biotechnology company developing treatments to treat tumors. Its shares are up by a whopping 307% over the past year and by 89% year-to-date. Most of the gains related to Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock have come courtesy of a 55% move in April. On the 13th, the stock 41% higher after the firm announced results of its Phase 3 RASolute 302 trial. The data showed Revolution Medicines, Inc. (NASDAQ:RVMD)’s treatment being able to help patients live a median of 13.2 months compared to the 6.7 months standard. Evercore ISI initiated coverage on the stock on February 25th as it set a $140 share price target and an Outperform rating. Data for Revolution Medicines, Inc. (NASDAQ:RVMD)’s phase 3 trial for the pancreatic cancer drug was part of Evercore’s coverage. Cramer discussed the trial data and shared additional context:

“Now this is I know for, because my mom died of cancer, you gotta be really be careful on this. Pancreatic, this is a very, unfortunately hard to solve cancer. RevMed, they slashed their risk of death by 60% versus chemo, that’s rather extraordinary. And David, they’re gonna seek FDA approval, Commissioner’s national priority voucher. But what matters here is that Merck, just reportedly, was trying to buy it for 28 to 32 billion. That’s well, this is now well in excess of what they wanted to buy it, so, you could argue, why did they buy it?”

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