Revolution Medicines (RVMD) Soars to All-Time High on Stellar Cancer Treatment Trial

Revolution Medicines Inc. (NASDAQ:RVMD) is one of the 10 Stocks With Eye-Popping Gains.

Revolution Medicines soared to a fresh all-time high on Monday, as investors cheered the stellar results from the clinical trial of its pancreatic cancer treatment, daraxonrasib.

In an updated report, Revolution Medicines Inc. (NASDAQ:RVMD) said that Daraxonrasib recorded a median overall survival of 13.2 months versus only 6.7 months for chemotherapy.

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“Daraxonrasib as a targeted medicine delivered a dramatic improvement in overall survival in patients with previously treated metastatic pancreatic cancer compared to standard of care chemotherapy, consistent with earlier findings. These results represent a potentially transformative advance for patients and underscore daraxonrasib’s potential to redefine the treatment landscape,” Revolution Medicines Inc. (NASDAQ:RVMD) Chairman and CEO Mark Goldsmith said.

“We are moving with urgency toward global regulatory submissions and remain committed to rapidly advancing this therapy for patients with a broad range of RAS-addicted cancers,” he noted.

Revolution Medicines Inc. (NASDAQ:RVMD) said it is planning to submit the overall data to regulators, including the Food and Drug Administration (FDA), as part of its future New Drug Application.

Following the news, investment firm Raymond James issued a “strong buy” recommendation for Revolution Medicines Inc.’s (NASDAQ:RVMD) stock, alongside a price target of $175, marking a 30 percent upgrade from $135 previously.

Meanwhile, Bank of America gave a $170 price target, or a 48 percent upgrade from $115, while maintaining a “buy” recommendation.

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