Sam Slutsky, an analyst from LifeSci Capital, maintained the Buy rating on RAPT Therapeutics. The associated price target was lowered to $68.00.
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Sam Slutsky has given his Buy rating due to a combination of factors, primarily centered around the promising developments in RAPT Therapeutics’ clinical trials and financial positioning. The recent positive results from the Phase 2 trial in chronic spontaneous urticaria (CSU) with their lead asset, ozureprubart, demonstrated superior efficacy compared to the current standard-of-care, which is a significant advancement.
Furthermore, RAPT’s successful capital raise of $250 million provides a strong financial foundation to support operations and future clinical developments, including the initiation of a Phase 3 program. The company’s strategic planning for upcoming trials in food allergy and asthma, along with the anticipated regulatory discussions, positions them well for future growth. These factors collectively contribute to the Buy rating, reflecting confidence in RAPT’s potential to deliver value to shareholders.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $72.00 price target.