Revolution Medicines Inc. (NASDAQ:RVMD) is one of the best hot stocks to buy for June.
On June 8, RBC Capital reiterated an Outperform rating on Revolution Medicines Inc. (NASDAQ:RVMD) and a $182 price target
The research firm remains bullish on the company’s outlook for candidate drug daraxonrasib (formerly referred to as daraxibart), which demonstrated an overall survival benefit in patients with metastatic pancreatic cancer. The candidate drug has demonstrated significant, clinically meaningful improvements in progression-free survival (PFS) and overall survival (OS) compared with the standard of care. According to RBC Capital, the positive clinical trials strengthen Revolution Medicine’s position in the pancreatic ductal adenocarcinoma market.
Consequently, it expects the company to become a leader in the space on daraxibart, achieving $5.6 billion in peak sales by combining with other treatment regimens. Pancreatic cancer is the most RAS-addicted of all major cancers, with patients harboring tumors driven by mutations in RAS proteins. The positive clinical trial results validate the company’s ability to target common RAS-addicted cancers through RAS(ON).