Analyst Emily Bodnar of H.C. Wainwright maintained a Buy rating on RAPT Therapeutics, retaining the price target of $72.00.
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Emily Bodnar’s rating is based on the promising clinical data and future potential of RAPT Therapeutics’ lead candidate, ozureprubart. The recent Phase 2 trial results in chronic spontaneous urticaria (CSU) showed significant improvements in patient outcomes compared to existing treatments, with a favorable safety profile and no serious adverse events. This positions ozureprubart as a potentially best-in-class treatment with less frequent dosing, which could enhance patient adherence.
Furthermore, the anticipated data from ongoing trials in asthma and food allergies could expand ozureprubart’s indications and market potential. The company’s strategic plans to engage with regulators for a Phase 3 trial in the US and the ongoing preparations for a similar trial in China further support the growth prospects. These factors combined contribute to the Buy rating, reflecting confidence in RAPT Therapeutics’ ability to advance its clinical programs and achieve regulatory milestones.
In another report released on November 3, Wells Fargo also maintained a Buy rating on the stock with a $72.00 price target.