Morgan Stanley initiated coverage of Revolution Medicines (RVMD) with an Overweight rating on September 10, 2026. The investment bank established a price target of $255.00 for the stock.
The rating follows the recent FDA approval of Rasonque for the treatment of pancreatic cancer. Clinical trials demonstrated that the drug nearly doubled median overall survival for patients.
Analysts also identified pipeline candidates like zoldonrasib for non-small cell lung cancer as significant value drivers. This initiation adds to a series of bullish analyst sentiments following the company's key drug approval.