Revolution Medicines price target raised to $87 from $82 at Guggenheim

Guggenheim analyst Michael Schmidt raised the firm’s price target on Revolution Medicines (RVMD) to $87 from $82 and keeps a Buy rating on the shares citing increased odds of success assumptions in second-line non-small cell lung cancer after the company provided a clinical data update on its RAS inhibitor pipeline that the the firm believes was “generally positive and further de-risks RVMD’s clinical development plans in PDAC, NSCLC, and CRC.”