Revolution Medicines has once again delivered positive clinical news: New data on RASONQUE in lung cancer were published in the New England Journal of Medicine following the recent FDA approval for pancreatic cancer. Analysts have also raised their expectations. But how has the stock reacted to the latest developments?
The short-term answer is mixed. Revolution Medicines initially continued its strong upward movement, breaking through previous resistance. Subsequently, however, the stock gave way again and entered a consolidation phase. The longer-term trend remains positive.
At the same time, the fundamental story continues to evolve. The recent publication in NEJM provides further clinical confirmation for RASONQUE (Daraxonrasib) beyond pancreatic cancer.
RASONQUE receives further clinical confirmation
The New England Journal of Medicine (NEJM) has published Phase 1/2 clinical data for RASONQUE (Daraxonrasib) in patients with pre-treated metastatic RAS-mutated non-small cell lung cancer (NSCLC).
The publication provides further clinical confirmation for Daraxonrasib beyond the recently approved indication in pancreatic cancer.
RASONQUE is currently not approved for NSCLC, so further clinical confirmations are required. Revolution Medicines is investigating Daraxonrasib in the global Phase 3 study RASolve 301. Patient recruitment is expected to be completed by 2026, with initial results expected in 2027.
For Revolution Medicines, the development underscores the broader potential of the RAS(ON) oncology platform and the possibility of expanding Daraxonrasib to other cancer indications.
Analysts raise their expectations
Analyst ratings remain positive after FDA approval of RASONQUE.
| Analyst Consensus | Current |
|---|---|
| Recommendation | BUY |
| Number of Analysts | 22 |
| Average Price Target | approx. USD 248 |
| Upside Potential | +18.5% |
| Highest Price Target | USD 320 |
| Lowest Price Target | USD 179 |
Several analysts have also raised their price targets after FDA approval, including Needham to USD 275, UBS to USD 265, and Guggenheim to USD 275.
Technical Picture: Consolidation after the breakout
Revolution Medicines – Daily Chart, as of: September 3, 2026
The technical picture remains positive, even though momentum has weakened after the recent rally.
After breaking through previous resistance, the stock reached a new high before pulling back and entering a short-term consolidation phase.
The RSI has returned to the neutral zone, while the MACD has weakened and fallen below its signal line. However, the overarching uptrend remains intact.
What we are observing
The focus is now on the commercial development of RASONQUE, further progress in the NSCLC program, and whether the stock can stabilize and regain momentum after the recent pullback.
Our original valuation analysis of Revolution Medicines remains unchanged. This update considers the latest clinical developments, as well as current analyst ratings and technical signals.
