Morgan Stanley Maintains Equal-Weight Rating for Revolution Medicines: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Equal-Weight rating on Revolution Medicines (NASDAQ:RVMD) but lowered its price target from $84.00 to $71.00. Despite this, RVMD shares have risen 2.06% in the last 24 hours to $32.18. A price target of $71.00 represents a 120.63% increase from the current price. Revolution Medicines is a clinical-stage company focusing on precision oncology, particularly targeting the RAS and mTOR signaling pathways.
March 08, 2024 | 5:00 pm
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Morgan Stanley maintains Equal-Weight on RVMD, lowers price target to $71. Shares up 2.06% at $32.18, indicating a potential 120.63% increase.
The maintenance of an Equal-Weight rating by Morgan Stanley, despite a lowered price target, suggests a cautious but not pessimistic view on RVMD. The significant potential upside from the current price to the new target indicates a strong growth outlook for the company, especially given its focus on precision oncology and targeting critical signaling pathways. The recent share price increase further supports a positive short-term outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100