Sep. 5 at 10:58 AM
Truist🏁
$RVMD Buy/
$99.
$BBOT $DAWN $ERAS $BMY
Truist said in its initiation report: Revolution Medicines (RevMed,
$RVMD) has gone big in targeting one of the biggest drivers of cancer (RAS) where mutations drive one-third of all new cancer diagnoses.
The company has built the broadest pipeline attacking these targets - most of them first-in-class - including a coveted multi-target "pan" inhibitor (Daraxonrasib), which we project to be a
$8B+ drug, and will accelerate faster than implied by consensus.
We think the current share price is missing the revolutionary potential of
$RVMD's drugs when used in combinations, but we believe these features will gain appreciation in the next 12-18 months as new data emerges. We rate
$RVMD a Buy, with a
$99 PT.
