Jim Cramer Says Revolution Medicines "Is a Speculative Situation"

Revolution Medicines, Inc. (NASDAQ:RVMD) is one of the stocks Jim Cramer recently offered insights on. When a caller asked for Cramer’s thoughts on the stock during the lightning round, he replied:

“Alright, this is a speculative situation… oncology play. I… lost my mom in cancer. I wish they had been working, this company existed during that period. I don’t know if they have anything at all, but I always say yes to the speculative stocks that are trying to cure cancer. If someone gets it right, wow.”

Revolution Medicines, Inc. (NASDAQ:RVMD) is a clinical-stage oncology company developing targeted therapies for RAS-driven cancers. RAS refers to a family of genes that produce proteins controlling cell growth and division. On October 17, Raymond James increased its price target for the stock to $76 from $72 and maintained a Strong Buy rating. The firm noted that RevMed’s daraxonrasib has been accepted into the FDA Commissioner’s National Priority Review, which is expected to shorten the timeline for daraxonrasib’s market entry in second-line RAS-mutant pancreatic cancer.

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Disclosure: None. This article is originally published at Insider Monkey.