Truist Assumes Coverage of Revolution Medicines (RVMD), Lifts PT

Revolution Medicines, Inc. (NASDAQ:RVMD) is one of the best medical stocks to invest in according to billionaires. Truist assumed coverage of Revolution Medicines, Inc. (NASDAQ:RVMD) with a Buy rating on May 18, adjusting the price target on the stock to $179 from $116. The firm told investors in a research note that it views daraxon as the “leading anchor” across RAS-mutant cancers, and that the drug could capture over 70% of the pancreatic ductal adenocarcinoma addressable market. The firm considers Revolution Medicines, Inc.’s (NASDAQ:RVMD) “first-in-class positioning, high efficacy barrier, and broad trial footprint, as supporting a durable moat and competitive offense”.

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

In a separate development, Revolution Medicines, Inc. (NASDAQ:RVMD) announced on May 1 that the U.S. Food and Drug Administration (FDA) issued a “safe to proceed” letter to the company, allowing the initiation of an expanded access treatment protocol (EAP) for daraxonrasib in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC). Daraxonrasib is an investigational RAS(ON) inhibitor.

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 combination and monotherapy treatment regimens that enhance clinical benefits.

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