Analyst Yanan Zhu of Wells Fargo maintained a Buy rating on RAPT Therapeutics (RAPT – Research Report), retaining the price target of $6.00.
Yanan Zhu’s rating is based on several promising developments within RAPT Therapeutics. The company is progressing with its Phase 2b trial for RPT904 in food allergies, expected to commence in the second half of 2025, with top-line data anticipated in the first half of 2027. This trial is a significant step forward, as it aims to address a substantial unmet need in the food allergy market.
Another critical factor influencing the Buy rating is the upcoming data from Jemincare’s Phase 2 studies in China, which focus on chronic spontaneous urticaria (CSU) and asthma. These studies are pivotal as they compare RPT904 against Xolair, a well-established treatment, and positive outcomes could significantly enhance RAPT’s market position. Additionally, RAPT’s strong cash position, which supports its ongoing and future clinical milestones, further underpins the positive outlook on the stock.
RAPT’s price has also changed moderately for the past six months – from $1.830 to $1.120, which is a -38.80% drop .