Needham lowered the firm’s price target on Revolution Medicines (RVMD) to $62 from $68 but keeps a Buy rating on the shares. The firm is updating its model after the company closed its upsized public offering of $862.5M in common stock, though it also continues to see meaningful potential for Revolution Medicines’ RAS-ON platform, either by combining two RAS-ON drugs or by combining with other treatments, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RVMD:
- Revolution Medicines price target raised to $72 from $64 at H.C. Wainwright
- Revolution Medicines 14.13M share Secondary priced at $46.00
- Revolution Medicines price target raised to $87 from $82 at Guggenheim
- Revolution Medicines price target raised to $71 from $63 at JPMorgan
- Revolution Medicines announces $600M common stock offering