Truist raises Revolution Medicines PT on lung cancer pipeline potential

Revolution Medicines

11/08/2026 12:41

** Brokerage Truist Securities raises price target for Revolution Medicines RVMD.O to $231 from $210
** Maintains "buy" rating
** Says recent advancement of elironrasib and zoldonrasib into late-stage studies in first-line non-small cell lung cancer (NSCLC) strengthens RVMD's position in RAS-targeted cancers
** Sees both programs expanding RVMD's addressable market in lung cancer and supporting a more diversified RAS franchise
** The new price target represents a 11.6% upside to the stock's last close
** Brokerage continues to expect potential approval of daraxonrasib in previously treated pancreatic cancer in Q3 2026
** "While pricing remains an open question, mgmt expressed confidence that organizational, market access, patient-support and distribution capabilities will not be limiting factors" - Truist says
** As of last close, stock has more than doubled YTD 

 (Reporting by Siddhi Mahatole)
 ((siddhi.mahatole@thomsonreuters.com))