Wedbush lifts Revolution Medicines PT as Merck takeover talks heat up

Revolution Medicines

09/01/2026 12:47

** Wedbush raises PT on cancer drug developer Revolution Medicines RVMD.O to $147 from $80

** Merck MRK.N is in talks to buy Revolution in a deal worth up to $32 billion, FT reported on Thursday

** Brokerage says "given the evolving news cycle, we are assuming the FT report is likely accurate"

** RVMD shares were up 12.9% to $121.21 premarket

** The Wall Street Journal reported on Wednesday that AbbVie ABBV.N was in advanced talks to buy Revolution, a claim the drugmaker later denied

** Adds "we believe $28 billion represents an attractive but not unreasonable price for shareholders – our sum of parts 2031 unadjusted revenue model estimate is ~$7 billion across RVMD’s pipeline"

     ** The new PT represents a 36.9% upside to the stock's last close

** Wedbush maintains "outperform" rating on the stock

** All the brokerages rate the stock "buy" or higher; their median PT is $80 - LSEG data

** As of last close, stock has more than doubled in past 12 months

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))