Revolution Medicines (RVMD) Gets Initiated With a New Buy Rating at Goldman Sachs

Revolution Medicines, Inc. (NASDAQ:RVMD) is one of the best oversold NASDAQ stocks to buy now. On July 15, Goldman Sachs analyst Andrea Newkirk initiated a new Buy rating on Revolution Medicines, Inc. (NASDAQ:RVMD) with a $65 price target.

Is Revolution Medicines, Inc. (RVMD) Among Stocks With At Least $20 Million In Insider Spending Recently?

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The analyst based the rating on the company’s promising clinical developments and strategic focus, stating that Revolution Medicines, Inc. (NASDAQ:RVMD) is at the forefront of precision oncology.

The company is focusing on a portfolio of RAS(On) inhibitors that treat RAS-addicted cancers, including pancreatic ductal adenocarcinoma (PDAC), non-small cell lung cancer (NSCLC), and colorectal cancer (CRC).

The analyst further stated that daraxonrasib is Revolution Medicines, Inc.’s (NASDAQ:RVMD) lead asset and is undergoing advanced clinical trials, such as two Phase 3 registrational trials for metastatic PDAC and NSCLC. Newkirk considers the potential of daraxonrasib, when used in combination with other therapies, to be quite promising, which may significantly increase its commercial success.

Revolution Medicines, Inc. (NASDAQ:RVMD) is a clinical-stage precision oncology company that develops novel targeted therapies. It discovers and develops cancer treatments through novel combinations and monotherapy treatment regimens that enhance clinical benefits.

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Disclosure: None. This article is originally published at Insider Monkey.