Barclays initiated coverage of Revolution Medicines with an Overweight rating and $52 price target. The analyst sees “two value-inflecting data readouts” in the second half of 2024 for the company. Revolution will report updated Phase 1 dose escalation datasets from the Multi-RAS trial in both pancreatic and lung cancer patients, the analyst tells investors in a research note. For both readouts, the firm assigns a 70% likelihood to positive data.
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