FDA review raises efficacy concerns for Revolution Medicines’ RASONQUE, sending shares lower
The U.S. Food and Drug Administration released review documents that questioned the efficacy of Revolution Medicines’ recently approved RASONQUE therapy across different KRAS mutation subtypes. The news triggered a 7.1% drop in the company’s stock and pushed the price to an intraday low of $180.52. RBC Capital Markets kept an Outperform rating but raised its price target to $259, while other analysts maintained higher targets. Insider selling over the past year totaled $149.7 million.
Why it matters
The regulatory uncertainty could delay commercial uptake of RASONQUE and affect near‑term revenue expectations, which may pressure the share price further (RBC’s note says the target remains $259). The large insider sell‑off of $149.7 million may signal reduced confidence among insiders.
Key facts
- 1Revolution Medicines’ stock fell 7.1% after the FDA review was released investing.com
- 2The FDA review raised concerns about the efficacy of RASONQUE across KRAS mutation subtypes investing.com
- 3The share price touched an intraday low of $180.52 investing.com
- 4RBC Capital Markets maintained an Outperform rating and raised its price target to $259 investing.com
- 5RBC Capital Markets also kept a $259 price target in later notes tipranks.com
- 6Insider selling over the past 12 months amounted to $149.7 million gurufocus.com
Open questions
- Analyst price targets differ: Truist cites $240, RBC cites $259, and RBC earlier mentioned $251
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.