Revolution Medicines

RVMD · NASDAQ

$196.55+$14.40 (+7.91%)TodayMarket closed · Oct 20, 7:47 PM ET

Prev close $182.15

RVMD analyst rating

BuyConsensus of 24 analysts over the last 12 months. 96% rate it a buy.

Strong buy0
Buy23
Hold1
Underperform0
Sell0

12-month price target · 24 analysts

Average $263.17 (+33.9% upside)

Low: $180.79
Now: $196.55
High: $336.00

Upgrades and downgrades

The latest rating actions, newest first

RVMD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Truist Securities	Oct 19, 2026	Maintains	Buy	$240.00 → $241.00	47%
William Blair	Oct 16, 2026	Initiates	Outperform	—	52%
Needham	Oct 15, 2026	Maintains	Buy	$275.00	47%
RBC Capital	Oct 14, 2026	Maintains	Outperform	$259.00 → $260.00	49%
RBC Capital	Oct 8, 2026	Maintains	Outperform	$251.00 → $259.00	49%
Truist Securities	Oct 7, 2026	Maintains	Buy	$239.00 → $240.00	47%
Brookline Capital	Sep 28, 2026	Initiates	Buy	$318.00	67%
Goldman Sachs	Sep 24, 2026	Initiates	Buy	$267.00	42%
B of A Securities	Sep 21, 2026	Maintains	Buy	$225.00 → $265.00	36%
Morgan Stanley	Sep 10, 2026	Initiates	Overweight	$255.00	47%

The case for and against

Updated Oct 14, 2026

Bull case

Revolution Medicines is viewed favorably because RASONQUE’s FDA approval in metastatic PDAC validates its lead asset with strong clinical efficacy, including mPFS of 7.2 months versus 3.6 months and mOS of 13.2 months versus 6.7 months, showing meaningful survival benefit over chemotherapy. The company also appears commercially ready, with a $39.8K WAC price, expected net pricing above prior assumptions, minimal payer friction, and early adoption signals from 2,000+ EAP patients that could support rapid revenue ramp and more than 4,000 patients on drug by 4Q. Beyond the launch, its pan-RAS platform and broader pipeline in CRC and combination settings create a durable oncology franchise with large long-term market potential across RAS-driven cancers.

Bear case

Revolution Medicines is viewed negatively because its value depends heavily on a small number of clinical-stage RAS programs that still face meaningful efficacy, regulatory, and commercialization risk, with setbacks or slower-than-expected reviews likely to materially impair results. The company also operates in a highly competitive KRAS space where other launches have been slower than expected and large-pharma follow-on molecules could shrink the opportunity, while ongoing R&D and SG&A outlays raise financing and dilution risk if commercial ventures underperform. Even the base-case DCF assumptions rely on approval probabilities of 65% for RMC-6291, 65% for RMC-6236 in RAS+ NSCLC, 75-100% in PDAC, 50% in CRC, and 60% for RMC-9805, underscoring how execution-sensitive the investment case remains.

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