Buy Rating on RAP-219 Underscored by Differentiated Clinical Profile, Conservative Phase 3 Design, and Favorable Risk–Reward

Douglas Tsao, an analyst from H.C. Wainwright, reiterated the Buy rating on Rapport Therapeutics, Inc.. The associated price target remains the same with $40.00.

Douglas Tsao has given his Buy rating due to a combination of factors tied to RAP-219’s differentiated clinical profile and the design of its late-stage program. He highlights that the Phase 3 focal epilepsy trials are structured to showcase the drug’s broad and flexible dosing range, with three once-daily dose levels mapped to a wide span of receptor occupancy, which underscores confidence in the compound’s potency and potential safety advantages versus existing anti-seizure medications. The decision to start patients at a lower-than-expected dose is interpreted as a way to further manage central nervous system side effects, addressing a key area of investor concern while still leveraging the drug’s pharmacologic strength.

In addition, Tsao points to the extended 14-week treatment period—longer than many recent 12-week studies—as a conservative but value-enhancing design choice intended to smooth out natural variability in seizure frequency and produce a more robust efficacy signal. He notes that the strategic timing of the Phase 3 start, now anticipated in the second quarter rather than later in the year, indicates strong operational execution and increases visibility on upcoming catalysts. While acknowledging some residual risk around potential mood-related effects given the mechanism of action, he views even a neutral outcome on mood as a significant positive relative to widely used comparators that carry known behavioral liabilities, supporting an overall favorable risk–reward profile for the stock.