Revolution Medicines price target raised to $70 from $57 at Piper Sandler

Piper Sandler analyst Joseph Catanzaro raised the firm’s price target on Revolution Medicines (RVMD) to $70 from $57 and keeps an Overweight rating on the shares after the company reported Q3 earnings and provided a pipeline update. Most importantly, Revolution remains on-track to provide 3 updates on RMC-6236 in NSCLC in Q4, including updated data on RMC-6236 as a monotherapy, initial data for 6236 + pembro, and initial data for RMC-6236 + RMC-6291 in G12C, Piper says.