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.
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